ZHEJIANGEXPRESS(00576): The shareholding ratio of the controlling shareholder of Zheshang Holdings on Zhejiang Expressway has been passively diluted to 48.4911% due to the conversion of convertible bonds.

ZHEJIANGEXPRESS (00576) announced that the Zhe 22 Convertible Bonds can be converted into company shares from December 20, 2022, and as of November 8, 2024, the number of Zheshang shares held by Zhejiang Expressway Holdings, controlling shareholder of Zheshang, remained unchanged, with the shareholding ratio passively diluted from 54.7894% before the issuance of convertible bonds to 49.5787%. As of November 15, 2024, the cumulative converted shares of convertible bonds amounted to approximately 504 million shares, increasing the total number of Zheshang shares to around 4.382 billion shares. The number of Zheshang shares held by Zhejiang Expressway Holdings remained unchanged at approximately 2.125 billion shares, with the shareholding ratio decreased from 48.4911% to 48.4911%, passively diluted by 1.0875%.