Zicom Electronic allots 2,48,256 shares on conversion of FCCBs

Zicom Electronic Security Systems Ltd has announced that the Committee of Board of Directors (CoD) at its meeting held on May 17, 2007 has approved allotment of 2,48,256 equity shares of the Company of Rs 10/- each arising out of conversion of 0.75% Foreign Currency Convertible Bonds (FCCBs) aggregating US$ 850,000; out of total Bond Size of US$ 11,000,000 to Deutsche Bank AG London at a conversion price of Rs 150 per share, in accordance with terms of issue of the said FCCBs made during September 2005.

Consequent to the aforesaid allotment, the Paid up capital of the Company has increased from Rs 9,74,64,720 to Rs 9,99,47,280; comprising of 99,94,728 shares of Rs 10/- each, and the outstanding quantum of FCCB has been reduced from US$ 11,000,000 to US$ 7,550,000.

Source : Equity Bulls

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