Nectar Lifesciences allots 339430 Equity Shares upon conversion of FCCBs

Nectar Lifesciences Ltd has announced that the Allotment committee of Board of Directors of the Company at its Meeting held on January 07, 2008, have allotted 339,430 equity shares of Rs 10/- each of the Company upon conversion of Zero Coupon Convertible Bonds Due 2011 (FCCBs) of US$ 2,000,000/-. The conversion has been took place at a predetermined price of Rs 263.22 at a predetermined exchange rate of US$ 1 = Rs 44.6725.

After the allotment of these shares, the paid up equity capital of the Company stands increased to Rs 152,260,970/- comprising of 15,226,097 equity shares of Rs 10/- each.

Source : Equity Bulls

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