Surya Pharmaceutical revised FCCBs Conversion Price announced

Surya Pharmaceutical Ltd had earlier announced that the Board of Directors of the Company at its meeting held on October 28, 2006, inter alia, has revised the convertibility of Foreign Currency Convertible Bonds issued by the Company, in terms of Reset Clause 7.2.4 of the Trust Deed Agreement, whereby effective October 28, 2006 onwards, the Company shall allot 313.1324 fully paid Equity shares for each FCCB of USD 1000.00. The Authorised Capital of the Company is sufficient to accommodate the marginal increase in Equity Shares to be issued upon conversion.

The Company has now announced that the number of shares to be allotted upon conversion was erroneously reported as "313.1324" instead on "315.9011".

Hence the correct number of shares to be allotted upon conversion is "315.9011".

Source : Equity Bulls

Keywords