Pioneer Embroideries resets FCCB conversion price to Rs 155.92

Pioneer Embroideries Ltd has announced that the Company had issued Series A and Series B of FCCBS on April 27, 2007 and the Second Reset Date was March 27, 2008.

The conversion price at the time of issuance was Rs 249.32 which has been reset on March 27, 2008 as per the Terms and Conditions of the Bonds.

The Company has calculated the Reset Price as per the relevant Clauses of the Terms and Conditions of the Bonds and the Reset Price comes to Rs 155.92.

Source : Equity Bulls

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