Dynamic Energy holder asks to convert HK$40 million convertible notes

By Jennifer Chiou

New York, May 9 - Dynamic Energy Holdings Ltd. announced that Victory Asset Management HK Ltd. delivered a request to convert HK$40 million of notes at a conversion price of HK$0.10 per share.

The company said that it will issue a total of 400 million conversion shares on Friday. That figure represents 5.78% of Dynamic's issued share capital.

Following the transaction, HK$20 million of the notes will remain outstanding.

The coal mining holding company is based in Dengfeng, Henan Province, China.

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