In order to implement Phase 3 conversion of convertible bonds CII41401 into CII shares on June 23 2016, CII would like to publish the following announcements regarding the final conversion decision date and interest payment date as follow:
- Final conversion decision date and interest payment date for convertible bonds CII41401: May 20 2016
- Conversion registration period: from May 26 2016 to June 03 2016
- Interest receipt period: from June 23 2016
Based on convertible bonds issuance procedure, and in order to assist investors in reaching the best decisions regarding whether or not to convert the convertible bonds CII41401 during Phase 3 conversion on 23 June 2016, CII would like notify investors of the following items:
- Regarding the interest payment of convertible bonds CII41401 when investors convert these bonds into shares on June 23 2016:
Investors will not receive interest payments from June 23 2015 to June 23 2016 on the bonds that will be converted to shares during Phase 3 (on 23 June 2016).
- Regarding the conditions to convert convertible bonds CII41401 into shares for foreign investors
Foreign investors who own CII convertible bonds upon exercising the right to convert their bonds into shares have to follow existing foreign ownership limit law. If the number of bonds registered to be converted by foreign investors exceed the number of bonds registered to be converted by local investors, CII’s foreign ownership ratio may reach the existing foreign ownership limit, preventing foreign investors to convert all the bonds they have registered to convert. In that case, the conversion registered by foreign investors will be executed through bonds issuance.