Yuen Chang Stainless holders may exercise put option Oct. 26-Nov. 25

By Mary-Katherine Stinson

Lexington, Ky., Oct. 3 – Taiwan’s Yuen Chang Stainless Steel Co. Ltd. announced that holders of its third issued domestic unsecured convertible corporate bonds (Yuenchang 4) may exercise their put option during the exercise period of Oct. 26 to Nov. 25, according to a notice.

The end of the exercise period has been moved forward one business day before expiration, to Nov. 24, because of a holiday.

The bond put price is 101.0025.

The option exercise will be effective from the time of receipt.

Bondholders must notify the company in letter form if they wish to participate.

Settlement will be Dec. 1, the fifth business day of the standard date of the put option exercise.

Taishin Securities Co. Ltd. is the agent for stock affairs.

The bonds were originally issued with a tenor of two years.

The stainless steel manufacturer is based in Kaohsiung, Taiwan.

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