Ozner Water lowers conversion price on 5% convertible bonds due 2020

By Marisa Wong

Morgantown, W.Va., Dec. 1 – Ozner Water International Holding Ltd. said it adjusted the conversion price of its 5% convertible bonds due 2020 to HK$1.91 per share from HK$2.25 per share.

The new conversion price is effective retroactively from Nov. 6.

The adjustment was triggered by the average closing share price of the company’s stock being lower than the then effective conversion price for the 20 consecutive trading days prior to the first anniversary of the bonds’ issue date.

Ozner distributes water purification systems in China. The company is based in Shanghai.

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