Pioneer Embroideries revises FCCB conversion price to Rs 101.50

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

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

The Company have calculated the Reset Price as per the relevant Clauses of the Terms and Conditions of the Bonds and the Reset Price come to Rs 101.50.

Source : Equity Bulls

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