Johnson Electric may adjust conversion price on 1% bonds due 2021

New York, July 12 – Johnson Electric Holdings Ltd. said it may adjust the conversion price for its 1% convertible bonds due 2021 due to payment of a final dividend.

The company announced that its shareholders approved on Wednesday a final dividend of HK$0.34 per share, payable on Aug. 11 to shareholders of record on Aug. 2.

The company said it will make further announcements.

Johnson Electric is a Hong Kong-based provider of motion subsystems and motion components for automotive and industrial applications. The company issued $200 million of the 1% convertible bonds in March 2014.

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