Southern Iron allots equity shares on conversion of loans

Southern Iron & Steel Company Ltd has announced that the Share Allotment Committee has allotted the following equity shares of Rs 10 each at a premium of Rs 52 per share on December 22, 2007 on preferential basis on conversion of Optionally Convertible Loan into equity in terms of the resolution passed by the shareholders in their Annual General Meeting held on July 19, 2007. These shares will rank pari-passu with the existing equity shares of the Company.

The lenders who were alloted shares include, Indian Bank: 41,13,516 No of Shares, South Indian Bank: 17,06,452 No of Shares, Punjab National Bank: 20,11,022 No of Shares, Union Bank of India: 51,44,086 No of Shares, Indian overseas Bank: 28,43,011 No of Shares, Bank of Baroda: 33,80,645 No of Shares, ICICI Bank Ltd: 1,31,33,871 No of Shares, IFCI Ltd: 58,02,752 No of Shares.

Source : Equity Bulls

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