Holike plans to lower "Hoko convertible bond" price

Guangzhou Holike Creative Home Furnishing Co., Ltd. (SSE:603898) announced its board of directors has proposed a downward revision of the conversion price for its "Hoko Convertible Bonds," triggered because the company's stock price fell below 80% of the existing conversion price for at least 15 out of 30 consecutive trading days. The proposal requires shareholder approval at the upcoming extraordinary general meeting. If approved, the revised conversion price must not be lower than the average trading price of the company's A shares in the 20 trading days prior to the shareholder meeting or the average from the day before the meeting, nor can it be lower than the latest audited net asset value per share or the par value of the stock. "Hoko Convertible Bonds" have a total value of 630 million yuan, and a current conversion price of 15.18 yuan per share.