CHINA CINDA (01359) plans to redeem all offshore preference shares on November 3.

CHINA CINDA (01359) has published an announcement regarding the distribution of dividends on the offshore preference shares and the proposed redemption of the offshore preference shares. The matters relating to this redemption have been reviewed and approved by the Board of Directors of the Company, and the Company has received a reply letter from the National Financial Regulatory Administration, which has no objection to this redemption. Pursuant to the terms and conditions of the offshore preference shares, the Company intends to redeem all of the offshore preference shares on November 3, 2026 (the Redemption Date). The redemption price per offshore preference share shall be: the issue price per offshore preference share (i.e., the liquidation preference amount), plus any declared but unpaid dividend per share for the period from and including the preceding dividend payment date up to but excluding the Redemption Date (the Dividend). The total redemption price for this redemption shall be: the liquidation preference amount of the offshore preference shares of US$1.7 billion, plus the Dividend of US$74.8 million, amounting to a total of US$1.7748 billion. The redemption proceeds will be paid through Euroclear Bank SA/NV and Clearstream Banking S.A. (the Clearing Systems) to persons registered at the close of business of the Clearing Systems on the Record Date (which shall be the clearing system business day immediately preceding the Redemption Date, i.e., November 2, 2026), or to such other accounts or persons as they may designate. Upon redemption and cancellation of the above existing offshore preference shares on the Redemption Date, the Company will have no offshore preference shares in issue. Accordingly, the Company will promptly apply to The Stock Exchange of Hong Kong Limited for the delisting of the offshore preference shares.