Sterling Biotech Updates on FCCB issue

Sterling Biotech Ltd has announced that the International Offerings Committee of Directors of the Company at its meeting held on February 05, 2007, has passed the following resolution:

"in pursuant to the conversion option of US $ 2,500,000 exercised by conversion notices dated January 18, 2007, and conversion date being January 19, 2007, by the holders of 0.50 percent convertible bonds due 2010 in terms of the conversion of FCCBs into equity shares as mentioned in the listing particulars (offer document for FCCBs) dated September 27, 2005 issued by the Company for issue of FCCBs, 717063 equity shares of Re 1/- each fully paid up at a price of Rs 152.7846 per equity share allotted to holders 0.50 percent convertible bonds due 2010 as per conversion notices mentioned above."

Source : Equity Bulls

Keywords