GHCL allots 287250 equity shares against conversion of FCCBs

GHCL Ltd has announced that the Banking and Operations Committee of the Board of Directors in its meeting held on December 10, 2007 allotted 287,250 Equity Shares of Rs 10/- each at a premium of Rs 149.5748 for cash against conversion of USD 1.00 million FCCBs to the bondholder.

These Equity Shares so allotted will rank pari passu with the existing Equity Shares of the Company in all respects.

With this allotment, the Paid up Share Capital of the Company stands increased from Rs 99,73,20,360/- (rupees ninety nine crores seventy three lacs twenty thousands three hundred and sixty) divided into 9,97,32,036 (nine crores ninety seven lacs thirty two thousands and thirty six) Equity Shares of Rs 10/- (rupees ten) each to Rs 100,01,92,860/- (rupees one hundred crores one lac ninety two thousands eight hundred and sixty) divided into 10,00,19,286 (ten crores nineteen thousands two hundreds and eighty six) Equity Shares of Rs 10/- (rupees ten) each.

Further the Company has informed that, out of USD 80.50 million of FCCBs the Company has converted USD 1.50 million into equity shares and therefore, the outstanding FCCBs due for conversion is USD 79.00 million.

Source : Equity Bulls

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