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| Exchange Disseminated Time | With reference to the earlier intimation dated January 20, 2016 made by the Company in relation to the meeting of the Fund Raising Committee ("Committee") held on January 23, 2016 and the outcome of the meeting reported on January 23, 2016 wherein the Committee approved the issuance of Secured, Unrated, Unlisted, Redeemable Optionally-Convertible Debentures on private placement basis ("Debentures") aggregating to Rs. 50 crores.
Centrum Capital Ltd has now informed BSE that in accordance with the approval of the shareholders of the Company at their meeting held on October 29, 2015 and the decision of the Committee held on January 23, 2016 and considering the present market scenario, the Committee has today i.e. January 29, 2016 met to clarify that the Debentures that will be issued will be exchangeable at the option of the Debenture holder against the equity shares of the step down subsidiary namely Centrum Direct Limited, and not convertible into the equity shares of the Company. The exchange price will be determined at the time of exercising the option at the time of redemption of the Debentures. |
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