Zhitong Financial APP News, Honghe Renai Medical (03869) issued an announcement that in view of the uncertain economic environment and fierce competition in the medical industry, in order to protect the company's financial cash flow, the company has issued a written notice to the subscribers on July 31, 2023, stipulating that the remaining early redemption amount will not be paid on or before July 31, 2023. The remaining advance redemption amount and interest are to be paid in two instalments, of which HK $39 million will be paid on or before 31 July 2024 and HK $50 million on or before 31 July 2025. The interest will be calculated in accordance with the convertible bond instrument (as amended by the deed of amendment) on the actual number of days from the date on which the relevant amount becomes due and payable to the date on which the company has formally paid the full amount of the relevant amount and on the basis of 360 days per year. The company will actively take measures to pay the remaining early redemption amount as soon as possible.
After the convertible bonds are redeemed in advance, there will be no outstanding principal amount of the convertible bonds, and no convertible bonds have been or will be converted into shares. Upon full payment of the early redemption amount (including the remaining early redemption amount), all convertible bonds will be cancelled and the company will be exempted from all liability under and related to the convertible bonds.