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IOL Chemicals And Pharmaceuticals Limited, Punjab

IOL Chemicals And Pharmaceuticals Limited, Punjab

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29th October 2014
OUTCOME OF THE BOARD MEETING HELD ON 29 OCTOBER 2014

The Board of Directors in its meeting held on today i.e. 29 October 2014 has considered and approved the following matters: 1. To exercise the CALL OPTION to convert all the outstanding US$ 7 million Zero Coupon Unsecured Convertible Bonds due June 2015 pursuant to the condition 6.1.2 of the terms and conditions of the Bonds (the "Conditions") held by the Bondholders on 28 November 2014 , as per particulars given below : S. No. Particulars Particulars 1. Bonds to be converted Principal amount of US$ 7 million Zero Coupon Unsecured Convertible Bonds due June 2015 2. Outstanding Amount US$ 7 million 3. Accredited value ​of Bonds to be converted Principal amount as on 28 November 2014 plus interest accrued thereon that is accredited value 1.3628974 times the principal amount ​4. Conversion date 28 November 2014 5. Conversion price 77 per share of face value of 10/- each 6. Exchange price of US$ 47.57 pre fixed per US$ 2. To incorporate a overseas subsidiary company to promote the business of the company






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