GF Securities (SHE:000776, HKG:1776) said the shareholder approval of a profit distribution plan has triggered mandatory interest payment clauses for its outstanding perpetual subordinated bonds.
Under the bond terms, dividends to common shareholders or capital reductions within 12 months before an interest payment date prevent interest deferral, according to a Tuesday filing with the Shanghai bourse.
Shares of the securities company rose 5% in recent trade on the Shenzhen bourse.
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