Castex Technologies has informed that pursuant to the Company’s Mandatory Conversion Notice (MCN) dated July 31, 2015 and in accordance with the conditions laid down in the bond documents, the Company has received conversion notices of $ 80.2 million. The balance $ 0.6 million is also being converted by the Company in accordance with the MCN and the conditions laid down in the bond document. The Allotment Committee of the Board of Directors of the Company in their meeting held on September 10, 2015, allotted 3,94,05,266 equity shares of Rs. 2 each at the fixed conversion price of Rs. 103.005 per share, thereby effecting the conversion of the outstanding Bonds worth $80.8 million out of the $ 130 million 6% FCCB issue. The Company has already converted bonds of $ 49.2 million pursuant to various conversion notices received voluntarily in the past. Hence, with the present allotment of shares pursuant to conversion of bonds of $ 80.8 million, the issue of $ 130 million 6% FCCB has fully been converted into shares of the Company which has resulted in the conversion of debt of $ 130 million into equity.
The above information is a part of company’s filings submitted to BSE.
