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| Exchange Disseminated Time | | With reference to the earlier announcement dated March 14, 2011 regarding allotment of 15,00,000 Optionally Convertible Debentures (OCDs), convertible into equal number of Equity Shares of Rs. 10/- each at a premium of Rs. 80/- per share to the Green India Venture Fund on preferential basis. In this connection, Ganesha Ecosphere Ltd has informed BSE that as per Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and the terms of issue, the said OCDs had the option of conversion into equal number of Equity Shares within a period of eighteen months from the date of allotment. As the holder of OCDs did not exercise the conversion option within the stipulated period, the right of conversion attached to aforesaid OCDs has ceased and the OCDs have acquired the status of Non-Convertible Debentures and are redeemable as per the terms and conditions of the issue. |
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