HEG repurchases US$ 3 million worth FCCBs

HEG Ltd has now announced with reference to the earlier annoucement dated April 30, 2009 regarding Board of Directors of the Company had approved buyback of Foreign Currency Convertible Bonds (FCCBs), that the Company had issued 1% Foreign Currency Convertible Bonds due 2010 amounting to US$ 28.75 million in 2005. After conversion from time to time, FCCBs amounting to US$ 11.05 million were outstanding.

The Company has repurchased FCCBs worth US$ 3,000,000. The same have been cancelled post buyback on June 02, 2009.

These repurchase are in compliance with the guidelines issued by Reserve Bank of India in this regard.

The stock closed the day at Rs.192.10, down by Rs.2.75 or 1.41%. The stock hit an intraday high of Rs.198.40 and low of Rs.183.20.

The total traded quantity was 82417 compared to 2 week average of 128927.

Source : Equity Bulls

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