CIFI HOLD GP (ASX: 00884) has announced that the second scheduled mandatory conversion record date occurred on June 30, 2026. According to the trust deed, if the cumulative principal amount of mandatory convertible bonds converted on or before June 30, 2026, does not exceed 40% of the total bond principal (approximately $1.63 billion), a scheduled mandatory conversion will be triggered, forcing the conversion of a portion of the bonds.

By the second scheduled mandatory conversion record date, the actual principal amount of bonds converted on or before June 30, 2026, was $1.568 billion, which did not surpass the $1.63 billion threshold. Consequently, mandatory convertible bonds with a total principal of $62.3516 million will be automatically and mandatorily converted into shares on the relevant scheduled conversion date, expected to be July 10, 2026, in accordance with the bonds' terms and conditions.

Governed by the bond terms, the current ordinary conversion price is HK$1.60 per share as of the announcement date. From June 29, 2026 (inclusive) until the date the relevant bondholder (or any person designated by them) is registered as the holder of the shares to be issued upon conversion in the company's register of members (inclusive), holders of the mandatory convertible bonds are not permitted to exercise any voluntary conversion rights or request the registration of a transfer of the bonds.