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Adjustment of conversion price

| Updated on August 25, 2014 Published on August 25, 2014

IOL Chemicals & Pharmaceuticals Ltd has informed BSE that the Company pursuant to para 6.3.12 of the Terms and Conditions relating to adjustment of conversion price in connection with the Zero Coupon Unsecured Foreign Currency Convertible Bonds (FCCB) issued by the Company in May 2010, the Committee of the Board in its meeting held on July 04, 2014 has allotted 11,50,000 equity shares of face value of Rs. 10/- at a price of Rs. 28/- per share and 1,10,00,000 warrants with option to subscribe a share for each warrant at a price of Rs. 28/- per shares within a period of 18 month from the date of allotment pursuant to the meeting of Board of Directors held on May 21, 2014 and shareholders meeting held on June 20, 2014 and accordingly the conversion price of said Bonds stands adjusted from date of allotment that is from July 04, 2014 from Rs. 78 to Rs. 77 per share.

Source : BSE - www.bseindia.com

Published on August 25, 2014
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