Rollatainers converts OFCDs

Rollatainers Ltd has announced that, in order to implement the rehabilitation scheme sanctioned by BIFR vide its order dated May 15, 2007 and amendment order dated August 06, 2007, the Board of Directors of the Company at its meeting held on January 07, 2008, has considered the conversion of 90,00,000 Optional Fully Convertible Debentures (OFCD) of Rs 10/- each into 90,00,000 equity shares of Rs 10/- each at par to the strategic investor M/s. W.L.D. Investments Pvt Ltd.

The Optional Fully Convertible Debentures (OFCD) were issued pursuant to Corporate Debt Restructuring Package approved under Corporate Debt Restructuring System.

The Company will proceed to issue the equity shares upon conversion of Optional Fully Convertible Debentures (OFCD) after receipt of statutory approval.

Source : Equity Bulls

Keywords