Shanthi Gears allots 156606 shares Conversion of FCCBs

Shanthi Gears Ltd has announced that M/s. Merrill Lynch Capital Markets Espana S.A.SV. FCCB Account. Madrid, the Bondholder has exercised the option of conversion of US$ 0.2 Million 0.5% Series A Bonds. The committee of directors at their meeting held on August 01, 2007 have allotted 156606 Equity Shares on account of Conversion. Till date US$ 3.7 Million Bonds have been converted into Equity Shares out of the US$ 10 Million 0.5% Series A Bonds issued.

Source : Equity Bulls

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