United Spirits allots 341,331 equity shares on conversion of Bonds

United Spirits Ltd has announced that in accordance with the Offering Circular dated March 24, 2006 of issue of US$ 100,000,000 2.00 per cent Convertible Bonds due 2011 ("the Bonds"), the Company has received conversion notices in respect of 6,000 Bonds aggregating to US$ 6,000,000 from the bond holders.

The Committee of Directors of the Company at its meeting held on July 24, 2007 has allotted 341,331 equity shares of Rs 10/- each, on conversion of 6,000 Bonds at a conversion price of Rs 781/- per equity share, with the fixed rate of exchange on conversion of Rs 44.43 = US$ 1.00.

Consequent upon the allotment on conversion of Bonds, the total issued and paid up equity capital of the Company stands increased to Rs 974,934,880 divided into 97493488 equity shares of Rs 10 each from the present Equity capital of Rs 971,521,570 divided into 97152157 equity shares of Rs 10 each.

Source : Equity Bulls

Keywords