GHCL repurchases Bonds worth $15.20 million

According to the terms and conditions of Offering Circulars issued for Foreign Currency Convertible Bonds ('FCCBs') and in continuation to the earlier announcement dated December 23, 2009, GHCL Ltd has announced that pursuant to the approval received from Reserve Bank of India, the Company has repurchased (buyback) 1% Convertible Bonds due 2011 ("Bonds") in tranches, up to December 31, 2009 aggregating to face value of USD 15,200,000 (fifteen million and two lakh) at a discount and has extinguished same.

Further the Company has informed that, after the cancellation of USD 15.20 million of Bonds, the total outstanding of the Bonds is USD 29.00 (twenty nine) million as on December 31, 2009.

The stock was trading at Rs.52.65, down by Rs.0.40 or 0.75%. The stock hit an intraday high of Rs.53.25 and low of Rs.52.50.

The total traded quantity was 72530 compared to 2 week average of 248003.

Source : Equity Bulls

Keywords