Lingyuan Iron & Steel proposes lowering convertible bond conversion price

Lingyuan Iron & Steel Co., Ltd. (SSE:600231) announced its board of directors is proposing a downward revision of the conversion price for its "Lingyuan Steel Convertible Bonds" (SSE:110070) after its stock price triggered the price adjustment mechanism. From March 12, 2025, to April 1, 2025, the company's share price was below 85% of the current conversion price of CNY 2.20 per share for at least 15 out of 30 consecutive trading days, triggering the adjustment. The board recommends that shareholders authorize them to determine and implement the revised conversion price, and has scheduled a shareholder meeting on April 22, 2025, to vote on the proposal.