Simbhaoli Sugars repurchases and cancels FCCBs worth US$ 2 million

Simbhaoli Sugars Ltd has announced that in the meeting held on May 29, 2009, the Finance Committee of the Board of Directors of the Company has approved the cancellation / extinguishment of further USD 2 million, 0% Foreign Currency Convertible Bonds (FCCBs) aggregating to USD 25.11 million FCCBs out of USD 33 million FCCBs issued by the Company in March 2006 under the guidelines of Reserve Bank of India for this purpose.

The stock was trading at Rs.40.50, up by Rs.1.65 or 4.25%. The stock hit an intraday high of Rs.40.75 and low of Rs.39.70.

The total traded quantity was 21002 compared to 2 week average of 19108.

Source : Equity Bulls

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