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

By Wendy Van Sickle

Columbus, Ohio, July 11 – Johnson Electric Holdings Ltd. said it may adjust the conversion price for its $200 million 1% convertible bonds due 2021 due to a final dividend for the year ended March 31.

On Thursday the company’s board of directors declared a final dividend of HK$0.34 per share, payable on Sept. 4 to shareholders of record on July 22.

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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