Geodesic Cancels FCCBs

Geodesic Ltd has now announced with reference to the earlier annoucement dated May 15, 2009, that the Company has cancelled USD 3.0 million of its outstanding 0% USD denominated Foreign Currency Convertible Bonds 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 113.5 million.

The stock closed the day at Rs.112.30, up by Rs.1.75 or 1.58%. The stock hit an intraday high of Rs.118 and low of Rs.110.30.

The total traded quantity was 37588 compared to 2 week average of 91732.

Source : Equity Bulls

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