Panacea Biotec updates on Issue of equity shares on conversion of FCCBs

With reference to the earlier announcement dated October 26, 2006 regarding allotment of 4914592 shares pursuant to conversion notices received for 269 bonds (Tranche 1) and 50 bonds (Tranche 2), Panacea Biotec Ltd has announced that the Company has received conversion notice from one bondholder in respect of 2 bonds (Tranche 2).

Accordingly, the Share Transfer cum Investor's Grievances Committee of the Company at its meeting held on May 17, 2007 has allotted 24688 Equity Shares of the Company to the Bond holder.

Source : Equity Bulls

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