KLG Systel Ltd has informed that the Board of Directors of the Company at its meeting held on May 26, 2008, inter alia, has transacted the following business :
1. Allotment of 327750 fully paid up equity shares of Rs 10/- each at a premium of Rs 390/- per shares upon conversion of FCCBs aggregating US $ 30,00,000 on exercise of conversion option by the Bondholders.
2. Allotment of 58300 fully paid up equity shares of Rs 10/- each at a premium of Rs 109.58 per share for cash to employees of the Company on exercise of option vested on April 12, 2008 in accordance with KLG Employee Stock Option Scheme, 2005.
1. Allotment of 327750 fully paid up equity shares of Rs 10/- each at a premium of Rs 390/- per shares upon conversion of FCCBs aggregating US $ 30,00,000 on exercise of conversion option by the Bondholders.
2. Allotment of 58300 fully paid up equity shares of Rs 10/- each at a premium of Rs 109.58 per share for cash to employees of the Company on exercise of option vested on April 12, 2008 in accordance with KLG Employee Stock Option Scheme, 2005.
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