Uttam Galva Steels Ltd has informed that the Board of Directors of the Company at its meeting held on February 13, 2008, has taken the following decisions:
- Pursuant to Special Resolution under Section 81(1A) of the Companies Act, 1956, at the Extra Ordinary General Meeting of the Company held on June 15, 2005 and in-principal approval received from stock exchanges, provisions of Offering Circular dated August 04, 2005 and Trust Deed dated August 09, 2005; 5,000,000 Bonds are converted into 48,23,803 Equity Shares of Rs 10/- each and be allotted to Citigroup Global Markets Ltd at the reset conversion price of Rs 45.12 with a fixed rate of exchange USD 1 = 43.53 ranking pari passu with the existing equity shares of the Company.
(i) Name of the Bond Holder: Merrill Lynch Capital Markets Espana S.A. SV
- Bond : 2,000,000
- Equity Shares : 1,929,521
(ii) Name of the Bond Holder: Plexus Fund Ltd
- Bond : 3,000,000
- Equity Shares : 2,894,282
- Pursuant to Special Resolution under Section 81(1A) of the Companies Act, 1956, at the Extra Ordinary General Meeting of the Company held on June 15, 2005 and in-principal approval received from stock exchanges, provisions of Offering Circular dated August 04, 2005 and Trust Deed dated August 09, 2005; 5,000,000 Bonds are converted into 48,23,803 Equity Shares of Rs 10/- each and be allotted to Citigroup Global Markets Ltd at the reset conversion price of Rs 45.12 with a fixed rate of exchange USD 1 = 43.53 ranking pari passu with the existing equity shares of the Company.
(i) Name of the Bond Holder: Merrill Lynch Capital Markets Espana S.A. SV
- Bond : 2,000,000
- Equity Shares : 1,929,521
(ii) Name of the Bond Holder: Plexus Fund Ltd
- Bond : 3,000,000
- Equity Shares : 2,894,282
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