Panacea Biotec exercise option for Mandatory Conversion of (Tranche I) FCCBs

Panacea Biotec Ltd has announced that with reference to the terms of issue of US$ 50,000,000 - 4.5% Foreign Currency Convertible Bonds (Tranche I), the Company had at its executive committee meeting held on October 06, 2006, decided to exercise the option for mandatory conversion of the said outstanding Tranche I FCCBs.

Source : Equity Bulls

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