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Stock Report
Subex Azure enters into agreement with UBS AG
Posted On : 2007-03-22 06:02:48( TIMEZONE : IST )
Subex Azure Ltd has announced that the Company on March 21, 2007 has entered into a supplemental underwriting agreement with UBS AG, as the sole global coordinator and bookrunner and RP&C International, as the co-manager, for the allotment of GDRs, pursuant to the Sponsored Programme.
The terms and conditions, including pricing, as approved by the Committee of the Board of Directors of the Company is as follows:
Number of GDRs to be issued: 2,823,713
Nominal Value of each GDR: US$ 12.76
Total Value of the Issue: US$ 36 million
Listing: Professional Securities Market of London Stock Exchange.
The Company will not receive any proceeds of this offering and the net proceeds after the offering expenses will be distributed to the selling shareholders by April 09, 2007 and the unsold shares will be returned to the selling shareholders by on or before March 30 2007.
