Nectar Lifesciences adjusts Conversion Price of FCCBs

Nectar Lifesciences Ltd has announced that pursuant to the para 5.3.4 of the Terms and Conditions relating to adjustment of conversion price in connection with the Zero Coupon Convertible Bonds due 2011 (FCCBs) issued by the Company on April 25, 2006, it is hereby informed that, the shareholders of the Company in their Annual General Meeting held on September 22, 2009, have declared the 10% Final Dividend i.e. Re. 0.10/- per Equity Share and accordingly Conversion Price of said Bonds stands adjusted restoratively from the book closure start date i.e. September 07, 2009 to Rs. 25.885.

The stock closed the day at Rs.24.45, up by Rs.0.15 or 0.62%. The stock hit an intraday high of Rs.24.80 and low of Rs.23.50.

The total traded quantity was 97390 compared to 2 week average of 94938.

Source : Equity Bulls

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