Core Projects to issue FCCBs for US$ 12.25 million

Core Projects & Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on October 05, 2006, inter alia, has accorded its approval to the Draft Offering Circular for the issue of Foreign Currency Convertible Bonds (FCCB) up to US$ 12.25 Million. As per the pricing formula as contained therein, each FCCB can be converted into equity shares at a price which is 10% above the volume weighted closing price of the Company’s shares 21 business days immediately prior to the date of the FCCB issue, subject to minimum of price calculated in accordance with the guidelines prescribed by the Ministry of Finance in this behalf.

Source : Equity Bulls

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