Zicom Electronic - Allotment of Equity Shares Against Conversion of FCCBs

Zicom Electronic Security Systems Ltd has informed that the Committee of Board of Directors at its meeting held on August 03, 2007, has approved allotment of 20,00,655 equity shares of the Company of Rs 10/- each arising out of conversion of 0.75% Foreign Currency Convertible Bonds (FCCBs) aggregating USD 6850,000 to the following bondholders at a conversion price of Rs 150 per share, in accordance with terms of issue of the said FCCBs made during September 2005:

1. Deutsche Bank AG London

- Bonds surrendered for conversion: 34

- Amount of FCCB (in USD): 3,40,000

- No of Equity Shares issued and allotted on Conversion of Bonds: 99,302

2. Goldman Sachs and Company- Bonds surrendered for conversion: 287- Amount of FCCB (in USD): 28,70,000- No of Equity Shares issued and allotted on Conversion of Bonds: 838,2313. Barclays Capital Securities Ltd- Bonds surrendered for conversion: 144- Amount of FCCB (in USD): 14,40,000- No of Equity Shares issued and allotted on Conversion of Bonds: 420,5764. Morgan Stanley Dean Witter Mauritius Co. Ltd.- Bonds surrendered for conversion: 170- Amount of FCCB (in USD): 17,00,000- No of Equity Shares issued and allotted on Conversion of Bonds: 496,5135. Fortis Bank NL NV- Bonds surrendered for conversion: 50- Amount of FCCB (in USD): 5,00,000- No of Equity Shares issued and allotted on Conversion of Bonds: 146,033Consequent to the aforesaid allotment of equity shares, the Paid up capital of theCompany has increased from Rs 10,69,91,740/- to Rs 12,69,98,290/- ; comprising of12699829 equity shares of Rs 10/ each, and as a result of the above conversion, nobonds are outstanding as on date.