Panacea Biotec Updates on redemption of preference shares

With reference to the earlier announcements dated August 03, 2006 & August 21, 2006 regarding Redemption of 4.5% Non-Convertible Redeemable Preference Shares (Series III), Panacea Biotec Ltd has announced that the Company has further redeemed remaining 4,34,34,914 - 4.5% Non-Convertible Redeemable Preference Shares (Series III) of Rs 10/- each aggregating to Rs 43,43,49,140/- on December 04, 2006. With the said redemption, all the Preference Shares of the Company have been redeemed.

Further the Board has declared the interim dividend @ 4.5% on pro-rata time basis for the financial year 2006-07 on the Preference Shares redeemed during the year.

Source : Equity Bulls

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