Educomp Solutions allots 329179 shares on conversion of FCCBs

Educomp Solutions Ltd has announced that in accordance with the Offering Circular dated October 13, 2006 of USD 25 million Foreign Currency Convertible Bonds (FCCBs) issue Company has received conversion notice in respect of 650 bonds aggregating to US$ 6.5 million from the bond holders. Accordingly, the Board of Directors of the Company at its meeting held on June 08, 2007 has allotted 3,29,179 Equity Shares of the Company to the respective Bond holders who have exercised their conversion option.

Further after allotment of 3,29,179 shares, Paid up Share Capital of the Company has increased from Rs 16,03,57,450 consisting of 1,60,35,745 equity shares of Rs 10/- each to Rs 16,36,49,240 consisting of 1,63,64,924 equity shares of Rs 10/- each.

The stock closed the day at Rs.1815.30, down by Rs.10.85 or 0.59%. The total traded quantity was 94703 compared to 2 week average of 64574. The stock hit an intraday high of Rs.1869 and low of Rs.1800.

Source : Equity Bulls

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