I. Voluntary share conversion
Suppose an investor holds 1 hand silk convertible bonds, that is, the face value is 1000 yuan. During the conversion period limited by the convertible bonds, this person applies to convert all his silk convertible bonds into shares. What was the conversion price at that time? Suppose it's 5.38 yuan. After receiving this application and confirming that RMB 65,438+0,000 is valid, the trading system of the Exchange will automatically convert RMB 65,438+0,000 into shares. After the share conversion, the convertible silk bonds will be reduced by 65,438+0,000 yuan in the investor's shareholder account, and S (S = P/R = 65,438+0,000/5.38 = 65,438+0.85) will be increased, that is, 65,438+0.85 shares of Wujiang Silk Co., Ltd.
2. Conditional compulsory share conversion:
If the convertible bonds have the conditions, the mandatory conversion clause is: "When the company's regular share price is higher than the effective conversion price for 30 consecutive trading days and reaches 65,438+020%, the company will make three announcements within 65,438+00 trading days, and carry out the mandatory conversion in 65,438+02 trading days, with the mandatory conversion ratio being 35% of the convertible bonds held and the mandatory conversion price being 65%. Suppose that an investor owns convertible bonds with a face value of 65,438+0,000 yuan when the compulsory conversion conditions take effect on a certain day, and the effective conversion price at that time is 4.38 yuan, then the number of shares obtained by the investor through compulsory conversion is the rounded part of S, S = p'/r', and p' is the number of convertible bonds that have been forcibly converted = (65,438+0,000. R' is the forced conversion price =4.38× 102%≈4.47, and the rounded part of s =400/4.47 =89 (shares). The zero-debt part that can't be converted into one share is returned in cash, and the amount returned is C = P'-S× R' = 400-89× 4.46.
Finally, after the conditional compulsory share conversion, the number of such convertible bonds and stocks in the investor's shareholder account will increase or decrease as follows: (1) reduce the convertible bonds with face value in 400 yuan and increase 89 corresponding stocks; 3.06 yuan was added to the cash account.
3. Unconditionally forced share conversion at maturity:
Take the silk convertible bonds as an example, the convertible bonds have an unconditional mandatory conversion clause, which reads: "Convertible bonds that are not converted before the maturity date of the convertible bonds (that is, August 27, 2003) will be forcibly converted into company shares on the maturity date, and if August 27, 2003 is not the trading day of Shenzhen Stock Exchange, they will be forcibly converted into company shares on the next trading day after that date. In the previous 65,438+00 trading days, the company will publish an announcement three times in the information disclosure newspaper of listed companies designated by China Securities Regulatory Commission to remind convertible bond holders. The holder of convertible bonds has no right to ask the company to pay off the principal of convertible bonds in cash, but the company will pay the remaining convertible bonds at the remaining face value when converting them into shares. "
The annual interest rate of convertible bonds in the latest year is 65,438+0.80%. Assuming that the forced conversion price at maturity is 4.08 yuan, if an investor still holds 65,438+0,000 yuan of silk convertible bonds on August 27th, 2003, all the convertible bonds held by the investor will be forced to be converted into shares. The rounded part of the number of shares obtained from the share conversion is S= 1000/4.08 =245, and the remaining zero debt after the share conversion will be returned to the principal and interest of the previous year. The calculation formula of principal and interest is c = (1000-245× 4.08 )× (1+65438+).