KLG Systel allots 327750 shares on conversion of FCCBs

KLG Systel Ltd has announced that the Board of Directors of the Company at its meeting held on May 26, 2008, inter alia, has allotted 327750 fully paid up equity shares of Rs 10/- each at a premium of Rs 390/- per shares upon conversion of FCCBs aggregating US $ 30,00,000 on exercise of conversion option by the Bondholders.

The company also made an allotment of 58300 fully paid up equity shares of Rs 10/- each at a premium of Rs 109.58 per share for cash to employees of the Company on exercise of option vested on April 12, 2008 in accordance with KLG Employee Stock Option Scheme, 2005.

Source : Equity Bulls

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