Alok Industries Ltd has informed that on September 27, 2007, the Company has received a conversion notice from its Paying, Conversion and Transfer Agent for conversion of 40 FCCBs of USD 50000 aggregating to USD 2.00 million into equity shares. In terms of the Offering Circular dated May 26, 2005, the Company has at the meeting of the Executive Committee of Board of Directors held on September 27, 2007 issued and allotted 13,64,037 equity shares of the face value of Rs 10.00 each for cash at a premium of Rs 61.5875 per share as an outcome of conversion of above referred FCCBs. By virtue of conversion of 40 FCCBs referred above, the number of FCCBs and amount outstanding stands at 894 and USD 44.70 million respectively.
By virtue of the above referred conversion of FCCBs into equity, the paid up equity share capital of the Company has increased from 17,03,71,974 equity shares of the face value of Rs 10/- each to 17,17,36,011 equity shares of the face value of Rs 10/- each.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment