GTL allots 362055 Equity Shares upon conversion of FCCBs

GTL Ltd has announced that the Committee of the Board at its meeting held on December 14, 2007, has considered and approved allotment of 362,055 Equity Shares of Rs 10/- each for cash at a premium in terms of the Offer document to FCCB holders, consequent upon the exercise of right to convert FCCBs worth Swiss Francs (SFr.) 902,913.

With the said conversions, all the outstanding bonds from FCCB-2004 issue have been converted in to equity shares and there would not be any further conversion on account of the same.

Source : Equity Bulls

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