EQS-Adhoc: CTF Services Limited: EARLY REDEMPTION OF HK$850,000,000 2.80 PER CENT. CONVERTIBLE BONDS DUE 2027

EQS-Ad-hoc: CTF Services Limited / Key word(s): Bond
   CTF Services Limited: EARLY REDEMPTION OF HK$850,000,000 2.80 PER CENT.
   CONVERTIBLE BONDS DUE 2027

   27-Feb-2026 / 14:35 CET/CEST
   Disclosure of an inside information acc. to Article 17 MAR of the
   Regulation (EU) No 596/2014, transmitted by [1]EQS News - a service of
   [2]EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   Hong  Kong  Exchanges  and  Clearing  Limited  and  The  Stock  Exchange
   of  Hong  Kong  Limited  take  no responsibility for the contents of this
   announcement, make no representation as to its accuracy or completeness
   and expressly disclaim any liability whatsoever for any loss howsoever
   arising from or in reliance upon the whole or any part of the contents of
   this announcement.

   This announcement is for information purposes only and does not constitute
   an offer to sell or the solicitation  of  an  offer  to  buy  any
   securities  and  neither  this  announcement  nor  anything  herein  forms
   the  basis  for  any  contract  or  commitment  whatsoever.  Neither  this
   announcement  nor  any  copy  hereof may be taken into or distributed in
   the United States. 

   The  information  contained  in  this  announcement  is  not  for
   distribution,  directly  or  indirectly,  in  or  into the United States.
   This announcement does not constitute or form a part of any offer or
   solicitation to purchase  or  subscribe  for  securities  in  the  United
   States.  The  New  Shares  and  the  Bonds  mentioned herein have not
   been, and will not be, registered under the Securities Act, and may not be
   offered or sold  in  the  United  States  except  pursuant  to
   registration  or  an  exemption  from  the  registration  requirements of
   the  Securities  Act.  No  public  offering  of  the  New  Shares  or  the
   Bonds  will  be  made  in  the  United States.

   CTF Services Limited 

   (incorporated  in  Bermuda  with  limited  liability)

   (stock  code:  00659)

    

   ANNOUNCEMENT

    

   EARLY  REDEMPTION  OF  HK$850,000,000  2.80  PER  CENT. CONVERTIBLE BONDS
   DUE 2027

   References are made to (i) the announcements of CTF Services Limited (the
   “Company”) dated 10 July 2025 and 21 July 2025 (together, the “CB
   Announcements”) in relation to the issue of the HK$850,000,000 2.80 per
   cent. Convertible Bonds due 2027 (the “Bonds”); and (ii) the announcements
   of the Company dated 24 November 2025, 23 December 2025 and 27 February
   2026 (the “CB Adjustment Announcements”) in relation to adjustments to the
   Conversion Price of the Bonds. Unless otherwise defined, capitalised terms
   herein shall have the same meanings as those defined in the CB
   Announcements and CB Adjustment Announcements.

   The Company announces that pursuant to Condition 8(C) (Redemption,
   Purchase and Cancellation – Redemption  at  the  Option  of  the  Issuer
   ) of the terms and conditions of the Bonds, the Company has given notice
   (the “Notice”) to the Bondholders on 27 February 2026 that it shall redeem
   all (but not some only) of the Bonds which remain outstanding on the
   Option Date (being 18 April 2026) (the “Remaining CBs”) at their principal
   amount, together with interest accrued but unpaid up to but excluding the
   Option Date, if any.

   The Company further announces that pursuant to Condition 8(H) (Redemption,
   Purchase and Cancellation – Redemption Notices  ) of the terms and
   conditions of the Bonds, the Company had specified the following in the
   Notice:

    a. the Conversion Price as at the date of the Notice: HK$6.69 per Share
       (which will be adjusted to HK$6.48 per Share effective from 21 March
       2026). Please refer to CB Adjustment Announcement dated 27 February
       2026 for more information;
    b. the last day on which Conversion Rights may be exercised: by 6:00 p.m.
       (Hong Kong time) on 14 April 2026;
    c. the Closing Price of the Shares on the date of the Notice: HK$8.94 per
       Share;
    d. the date for redemption: 18 April 2026; and
    e. the aggregate principal amount of the Bonds outstanding as at the date
       of the Notice: HK$212,000,000.

   As at the date of this announcement, HK$212,000,000 in aggregate principal
   amount of the Bonds remains outstanding. If all the Bonds outstanding as
   at the date of this announcement are converted at the adjusted Conversion
   Price of HK$6.48 per Share (in accordance with the CB Adjustment
   Announcement dated 27 February 2026), a total of 32,716,049 New Shares
   will be issued, representing:

    a. approximately 0.72% of the existing number of issued Shares of the
       Company as at the date of this announcement; and
    b. approximately 0.72% of the number of issued Shares of the Company, as
       enlarged by the issue and allotment of the new Shares upon full
       conversion of the Bonds (assuming that there is no other change to the
       issued share capital of the Company).

   The settlement of the redemption of the Remaining CBs shall take place on
   20 April 2026 and the Remaining CBs will be cancelled upon settlement of
   the redemption. Upon completion of the redemption, there will be no
   outstanding Bonds in issue. Accordingly, the Bonds are expected to be
   delisted from the Vienna Stock Exchange on or around 20 April 2026.

   Bondholders should refer to the terms and conditions of the Bonds and
   consult their licensed securities dealer or registered institution in
   securities, bank manager, solicitor, professional accountant or other
   professional adviser if they are in doubt as to any aspect of this
   announcement or as to the action to be taken resulting from the exercise
   of the redemption right by the Company.

   THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED
   OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE
   7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 (“MAR”).

   FOR THE PURPOSES OF MAR AND ARTICLE 2 OF COMMISSION IMPLEMENTING
   REGULATION (EU) 2016/1055, THIS ANNOUNCEMENT IS MADE BY DR. CHENG KAR
   SHUN,  HENRY,  DIRECTOR  OF  THE  COMPANY.

   By order of the Board

   CTF  Services  Limited

   Dr.  Cheng  Kar  Shun,  Henry

   Chairman

    

   Hong Kong, 27 February 2026

   As at the date of this announcement, (a) the executive directors of the
   Company are Dr. Cheng Kar Shun, Henry, Mr. Cheng Chi Ming, Brian, Mr. Ho
   Gilbert Chi Hang, Mr. Lam Jim and Mr. Cheng Chi Leong, Christopher; (b)
   the non-executive directors of the Company are Mr. William Junior
   Guilherme Doo (alternate director to Mr. William Junior Guilherme Doo: Mr.
   Lam Wai Hon, Patrick) and Mr. Tsang On Yip, Patrick; and (c) the
   independent non-executive directors of the Company are  Mr.  Shek  Lai
   Him,  Abraham,  Mr.  Lee  Yiu  Kwong,  Alan,  Mrs.  Oei  Wai  Chi  Grace
   Fung, Mr.  Wong  Kwai  Huen,  Albert,  Professor  Chan  Ka  Keung,  Ceajer
   and  Ms.  Ng  Yuen  Ting,  Yolanda.

   End of Inside Information

   ══════════════════════════════════════════════════════════════════════════

   27-Feb-2026 CET/CEST News transmitted by [3]EQS Group

   View original content: [4]EQS News

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     CTF Services Limited
                Clarendon House, 2 Church Street
                HM 11 Hamilton
                Bermuda
   Phone:       (852) 3113 6028
   E-mail:      [email protected]
   Internet:    https://www.ctfs.com.hk/
   ISIN:        XS3123496989
   Listed:      Vienna Stock Exchange (Vienna MTF)
   EQS News ID: 2283104


    
   End of Announcement EQS News Service


   2283104  27-Feb-2026 CET/CEST

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