The Hindu Business Line : Subex Systems allots shares to Merrill Lynch

SUBEX Systems has allotted 2,30,769 equity shares of Rs 10 each at a price of Rs 300 each to Merrill Lynch Capital Markets Espana S.A.SV by virtue of conversion of foreign currently convertible bonds (FCCB) of nominal value $1.5 million held by them.

The company informed the Bombay Stock Exchange that the board has accepted the resignation of Mr Alex P J, from the post of Executive Director of the Company with effect from February 3. Mr Alex shall remain as a Director of the company, it said.

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