Huayou Cobalt adjusts convertible bond price after share repurchase

Huayou Cobalt (SSE:603799) announced the completion of a repurchase and cancellation of 5,033,840 restricted shares. This action has triggered an adjustment to the conversion price of its convertible bonds ("Huayou Bonds," SHE:113641). The new price, effective February 5, 2025, will be 35.03 yuan/share, up slightly from the previous 35.00 yuan/share. The adjustment was calculated in accordance with the bond's prospectus, factoring in the repurchase price of the restricted shares and the total number of outstanding shares. Trading of the Huayou Bonds will be halted for conversion from January 27, 2025, and resume on February 5, 2025. The repurchased shares were held by former employees who left the company due to various reasons including resignation, retirement, and dismissal. The original issuance of the convertible bonds in February 2022 totaled 7.6 billion yuan.