S.Kumars Nationwide to allot shares on conversion of FCCBs

S.Kumars Nationwide Ltd has announced that the Board of Directors of the Company at its meeting held on September 14, 2006, inter alia, has allotted the following:

1. 39,42,105 equity shares of Rs 10/- each in conversion of FCCBs amounting to US $ 5 million as per the terms of the issue of FCCBs and also delegated powers to Committee of Directors for issue of the equity shares in conversion of FCCBs in future as and when the conversion notice / s are received from the bond holders;

2. 573,086 0.01% Redeemable Preference Shares of Rs 100/- each pursuant to CDR package.

Source : Equity Bulls

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