China Cinda (01359) plans to redeem all overseas preferred shares on November 3

According to the Zhitong Finance App, China Cinda (01359) issued an announcement regarding the distribution of overseas preferred stock dividends and the proposed redemption of overseas preferred shares. Matters related to this redemption have been reviewed and approved by the board of directors of the Company, and the Company has received a reply from the General Financial Supervisory Authority. The Financial Supervisory Authority has no objection to this redemption.

According to the terms and conditions for overseas preferred shares, the Company plans to redeem all overseas preferred shares on November 3, 2026 (redemption date). The redemption price for each foreign preferred share is: the issue price of each overseas preferred share (that is, the liquidation priority amount), plus the declared but unpaid dividend (dividend) for the period from the previous dividend payment date (including that date) to the redemption date (excluding that date). The total redemption price is US$1.7 billion for overseas preferred stock liquidation, plus US$74.8 million in dividends, for a total of US$1,774.8 billion.

The amount of this redemption will be paid through Euroclear Bank SA/NV and ClearStream Banking S.A. (clearing system) to persons registered at the closing of the clearing system on the registration date (which shall be the working day of the clearing system before the redemption date, that is, November 2, 2026), or other accounts or individuals designated by them.

After redemption and cancellation of the existing overseas preferred shares mentioned above on the redemption date, the Company will not have any surviving overseas preferred shares. Based on this, the Company will promptly apply to the Stock Exchange of Hong Kong Limited to delist overseas preferred shares.