Huayou Cobalt completes restricted share grant, adjusts conversion price

Zhejiang Huayou Cobalt (SSE: 603799) has completed the initial grant of restricted shares to 1,161 incentive recipients, issuing 9.3493 million shares at a price of 15.06 yuan per share, according to a recent announcement. The move follows shareholder approval and aims to incentivize key personnel and align their interests with the company's long-term performance. The grant has led to an adjustment in the conversion price of the company's "Huayou Convertible Bonds" from 35.03 yuan to 34.92 yuan, effective March 12, 2025. Concurrently, Huayou Cobalt plans to temporarily use idle proceeds not exceeding RMB 550 million to supplement its working capital. The company's stock is expected to have trading suspended on March 11, 2025 and resume on March 12, 2025.