GHCL FCCB issue conversion price fixed at Rs.197.271

With reference to the earlier announcement dated October 06, 2005, regarding the issue of Foreign Currency Convertible Bonds (FCCBS) aggregating to US $ 80.5 million (including green shoe option of 15% amounting to US $ 10.5 million), GHCL Ltd has announced that, in line with the terms of the Offering Circular the price for conversion of the FCCBs has been fixed at Rs 197.271 per share having face value of Rs 10 per share. However, the conversion price in US Dollar terms will be determined on September 21, 2006 in line with the terms of the offer of FCCBs.

Source : Equity Bulls

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