Dejin extends two series convertibles to 2016, cuts conversion price

By Marisa Wong

Madison, Wis., Oct. 24 - Dejin Resources Group Co. Ltd. proposed to extend the maturity date of its HK$5.92 billion 0% convertible notes and HK$1.03 billion 0% convertible notes to May 13, 2016 from May 13, 2013 and lower the conversion price of both series of notes to HK$0.30 per share from HK$24 per share, according to a company announcement.

The company said that as of Oct. 24, holders of HK$826 million, or 98%, of the HK$843 million outstanding principal amount of the convertible notes consented to the amendments.

The company executed a supplemental deed effecting the changes on Thursday.

Formerly known as Bright International Group Ltd., Dejin is a gold mining and timber business incorporated in Bermuda with offices in Hong Kong.

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