Adlabs Films allots 1622544 equity shares on conversion of FCCBs

Adlabs Films Ltd has announced that the Committee of the Board of Directors at its meeting held on January 02, 2008 has allotted 16,22,544 equity shares of Face Value Rs 5/- each for cash at a price of Rs 543.42 (including a premium of Rs 538.42) per share pursuant to the conversion notices received in respect of conversion of Zero Coupon Foreign Currency Convertible Bonds aggregating 1,62,50,000 Euros (or Rs 88,17,25,000) in value.

Pursuant to the allotment the total paid up share capital of the Company shall be 22,35,84,040 divided into 4,47,16,808 equity shares of Rs 5 each fully paid up.

Further pursuant to the allotment the Networth of the Company shall be Rs 578.27 crores.

The outstanding amount of Zero Coupon Foreign Currency Convertible Bonds is now 3,47,65,000 Euros in value.

Source : Equity Bulls

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