Educomp Solutions allots 25321 Shares on conversion of FCCBs

Educomp Solutions Ltd has announced that in accordance with the Offering Circular dated on October 13, 2005 of USD 25 million Foreign Currency Convertible Bond(FCCBs) issue, the Company has received conversion notice in respect of 50 bonds aggregating to USD 0.50 million from the bond holders. According the Board of Directors by passing the resolution by circulation on August 17, 2007 has allotted 25,321 Equity Shares of the Company to the respective Bond holders who have exercised their conversion option.

Further the Company has announced that after allotment of 23,321 shares, paid up Share Capital has increased from Rs 17,20,05,330/- consisting of 1,72,00,533 equity shares of Rs 10/- each to Rs 17,22,58,540/- consisting of 1,72,25,854 equity shares of Rs 10/- each.

The stock was trading at Rs.2328.50, up by Rs.21.50 or 0.93%. The stock hit an intraday high of Rs.2350 and low of Rs.2260. The total traded quantity was 35629 compared to 2 week average of 104928.

Source : Equity Bulls

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