Zicom Electronic approves allotment of 2,04,446 shares on conversion of FCCBs

Zicom Electronic Security Systems Ltd has announced that the Committee of the Board of Directors (CoD) of the Company at its meeting held on June 04, 2007, has approved allotment of 2,04,446 equity shares of the Company of Rs 10/- each arising out of conversion of 0.75% Foreign Currency Convertible Bonds (FCCBs) aggregating US$ 700,000; out of total Bond Size of US$ 11,000,000 to M/s. Deutsche Bank AG London at a conversion price of Rs 150 per share, in accordance with terms of issue of the said FCCBs made during September 2005.

Consequent to the aforesaid allotment, the Paid up capital of the Company has increased from Rs 9,99,47,280/- to Rs 10,19,91,740/- comprising of 10199174 shares of Rs 10/- each, and the outstanding quantum of FCCB has been reduced from US$ 7,550,000 to US$ 6,850,000.

The stock closed the day at Rs.236.40, down by Rs.1.90 or 0.80%. The stock hit an intraday high of Rs.240 and low of Rs.235. The total traded quantity was 27359 compared to 2 week average of 137988.

Source : Equity Bulls

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