China Yuhua announces adjustment to conversion rate for 0.9% bonds

By Sarah Lizee

Olympia, Wash., Feb. 24 – China Yuhua Education Corp. Ltd. announced an adjustment to the conversion rate of its HK$2,088,000,000 0.9% convertible bonds due 2024.

The conversion price changed to HK$7.019 per share from the initial conversion price of HK$7.1303 per share.

The maximum number of conversion shares that will be issued upon conversion of all the outstanding convertible bonds at the adjusted conversion price is 297,478,273 shares, representing an increase of 4,643,470 shares issuable under the convertible bonds.

The adjustment was made due to payment of a final divided of HK$0.073 per share for the year ended Aug. 21 and paid to shareholders on Feb. 21.

China Yuhua Education is a Zhengzhou, China-based provider of private education services.

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