Suzlon Energy Updates on 2007 FCCBs

Suzlon Energy Ltd has announced that the meetings of holders of each of the June 2007 Bonds and the October 2007 Bonds (collectively, the "Meetings") were held (pursuant to the notices dated March 31, 2009 convening meetings of the holders of Bonds) at on April 29, 2009.

The Meeting of holders of the June 2007 Bonds passed the Extraordinary Resolution put before such Meeting. The Meeting of the holders of the October 2007 Bonds did not pass the Extraordinary Resolution put before such Meeting. The Company is currently evaluating its options in relation to the Offer in accordance with and subject to the terms of the Consent Solicitation and Offer Memorandum dated April 20, 2009 (the "Consent Solicitation and Offer Memorandum") and applicable laws. The Company reserves the right to waive, in its sole discretion, either or both the Minimum Consent Conditions up to the Settlement Date.

The stock was trading at Rs.66.85, up by Rs.3.20 or 5.03%. The stock hit an intraday high of Rs.67.80 and low of Rs.64.95.

The total traded quantity was 5572526 compared to 2 week average of 15592900.

Source : Equity Bulls

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