Citic Pacific Special Steel halts bond conversion

Citic Pacific Special Steel Group (SZSE:000708) will suspend the conversion of its "Zhongte Convertible Bonds" from April 24, 2025, until the equity registration date for its 2024 annual equity distribution. Bond conversion will resume on the first trading day following the equity registration date. The company's 2024 annual equity distribution plan, approved at the annual general meeting, involves a cash dividend of CNY 2.56 billion (inclusive of tax), based on the equity as of the equity registration date. The allocation may be adjusted proportionally if the total share capital changes due to equity incentive exercises, convertible bond conversions, or share repurchases. The bond will continue to be normally traded during the suspension period.