Core Projects resets conversion price of FCCBs to Rs 82.86

Core Projects & Technologies Ltd has announced that in accordance with the Offering Circular dated May 8, 2007 for the issue of US$ 80,000,000 Zero Coupon Foreign Currency Convertible Bonds due 2012 issued by the Company, under Condition 6(C) (xxvii) of the said Offering Circular with effect from November 12, 2008 the Conversion Price of the Bonds is reset at Rs 82.86.

Total bonds outstanding as on dated is US$ 25,200,000 to be converted at a predetermined exchange rate of US$ 1 = Rs 40.82.

The Stock was trading at Rs.57.80, up by Rs.2.55 or 4.62%. The stock hit an intraday high of Rs.60.20 and low of Rs.56.50.

The total traded quantity was 401535 compared to 2 week average of 3157902.

Source : Equity Bulls

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