Shanthi Gears allots 391516 shares on Conversion of FCCBs

Shanthi Gears Ltd has announced that Credit Suisse (Singapore) Ltd, Singapore, the Bondholder have exercised the option of conversion of US$ 0.5 Million 0.5% Series A Bonds. The committee of directors at their meeting held on December 24, 2007 have allotted 391516 Equity Shares on account of Conversion. Till date US$ 4.2 Million Bonds have been converted into Equity Shares out of the US$ 10 Million 0.5% Series A Bonds issued.

Source : Equity Bulls

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