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| Exchange Disseminated Time | Marksans Pharma Ltd has informed BSE that pursuant to the approval of the shareholders of the Company at the Extra Ordinary General Meeting held on May 12, 2005 and Offering Circular dated November 07, 2005, the Company had issued US$ 50 Million through Foreign Currency Convertible Bonds (Bond) on October 13, 2005. These bonds are convertible into the underlying equity shares at the option of the bond holders.
One bond holder holding 1 (One) bond of US$ 1000 has exercised the right of conversion of the bond into equity shares. Accordingly, in terms of the said Offering Circular and pursuant to the approval of the shareholders, the Board of Directors of the Company has, at its meeting held on April 14, 2010 converted the said 1 (One) Bond of US$ 1000 into 1,333 Equity Shares of Re. 1/- each and allotted to the concerned bond holder.
Accordingly, the Issued, Subscribed and Paid-up Equity Share Capital of the Company has increased from Rs. 367805871/- divided into 367805871 Equity Shares of Re. 1/- each to Rs. 367807204/- divided into 367807204 Equity Shares of Re. 1/- each effective from April 14, 2010.
The equity shares of the Company issued pursuant to conversion of the Bond will rank pari passu in all respect with the existing equity shares of the Company. |
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