CTF Services Issues 34.67 Million New Shares in March, Driven by Bond Conversions and Option Exercises

Bulletin Express
04/01

CTF Services Limited (incorporated in Bermuda with limited liability) filed its monthly return for the period ended 31 March 2026, detailing an expansion of the issued share base and confirming continued compliance with Hong Kong’s public-float requirements.

Total issued shares rose by 34.67 million to 4.57 billion. The increase was generated through two channels:

• Convertible bonds: HKD 212.00 million of the 2.80% Convertible Bonds due 2027 were fully converted, creating 31.69 million new ordinary shares at a conversion price of HKD 6.69 each. No balance of the bonds remains outstanding after the conversion.

• Share-option scheme: 2.98 million options granted under the 23 November 2021 scheme were exercised, while 0.30 million options lapsed. The exercise delivered HKD 20.20 million in cash proceeds and brought outstanding options to 214.00 million.

No treasury-share movements occurred during the month, leaving the treasury balance at zero.

Authorised share capital stayed unchanged at 6.00 billion ordinary shares with a par value of HKD 1, representing authorised capital of HKD 6.00 billion.

After the month-end adjustments, CTF Services confirmed that at least 25% of its issued share capital remained in public hands, meeting the Main Board Rule 13.32D(1) threshold.

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