Mercator Lines allots 1462248 Equity Shares on conversion of FCCBs

Mercator Lines Ltd has announced that the Committee of Board of Directors of the Company at its meeting held on November 19, 2007, inter alia, has approved allotment of 1,462,248 equity shares of Re 1/- each in lieu of surrender of Foreign Currency Convertible Bonds (FCCB's) aggregating USD 2,000,000/- from a bond holder at a conversion price of Rs 59/812. Consequently, the paid up capital of the Company has increased to 22,43,45,268 equity shares of Re 1/- each. With this conversion, now there are 2293 FCCB's outstanding of aggregate amount of USD 22,930,000/-.

Source : Equity Bulls

Keywords