Shringar Cinemas allots 1687850 equity shares upon conversion of FCCBs

Shringar Cinemas Ltd has announced that out of the 0.5% per annum Series B Unsecured Foreign Currency Convertible Bonds due 2011 (FCCBs) aggregating to US$ 8 million issued by the Company, 1,687,850 Equity Shares were allotted by the Managing Committee of the Company at its meeting held on January 16, 2008 at a conversion price of Rs 107/- per equity share and at the Exchange Rate of Rs 45.15 per USD upon conversion of the said Foreign Currency Convertible Bonds Series B due on 2011 (FCCBs) aggregating to US$ 4 million.

Source : Equity Bulls

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