Educomp Solutions allots 334750 Shares on conversion of FCCB's

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 661 bonds aggregating to US$ 6.61 million from the bond holders. Accordingly, the Board of Directors by passing the resolution by circulation on July 17, 2007 has allotted 3,34,750 Equity Shares of the Company to the respective Bond holders who have exercised their conversion option.

Further after allotment of 3,34,750 shares, Paid up Share Capital of the Company has increased from Rs 16,77,00,680 consisting of 1,67,70,068 equity shares of Rs 10/- each to Rs 17,10,48,180 consisting of 1,71,04,818 equity shares of Rs 10/- each.

The stock closed the day at Rs.2157.10, down by Rs.19.95 or 0.92%. The stock hit an intraday high of Rs.2209.90 and low of Rs.2131. The total traded quantity was 54835 compared to 2 week average of 100317.

Source : Equity Bulls

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