Geodesic cancels US$8.5 Million worth FCCBs

Geodesic Ltd has now announced with reference to the earlier annoucement dated March 31, 2009, that the Company has cancelled USD 8.5 million of its outstanding 0% USD denominated Foreign Currency Convertible Bonds (FCCBs) due 2013 (the "Bonds"), listed on the Singapore Stock Exchange, in accordance with the A.P. (DIR Series) Circular No. 39 dated December 08, 2008 (the "Circular") issued by the Reserve Bank of India.

The amount of Bonds outstanding after this repurchase and cancellation is USD 116.5 million.

The stock was trading at Rs.70.70, up by Rs.2.15 or 3.14%. The stock hit an intraday high of Rs.71 and low of Rs.64.50.

The total traded quantity was 24702 compared to 2 week average of 37649.

Source : Equity Bulls

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