Webel-Sl Energy allots FCCBs

Webel-Sl Energy Systems Ltd has announced that pursuant to the Authority given by the Shareholders in the Extra Ordinary General Meeting held on July 15, 2006, the Board of Directors of the Company in its meeting held on October 26, 2007 has issued and allotted Foreign Currency Convertible Bonds (FCCB) of USD 16.8 mns to M/s. Merrill Lynch International.

The FCCB shall be convertible at the option of the holders at a premium of Rs 540/- per share within 5 years 7 days from the date of allotment of the Bonds.

Source : Equity Bulls

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