LML to offer $26mn conditional FCCBs

LML is considering a $26 million conditional overseas offer of FCCBs in two tranches. According to a release issued to the BSE, while series A consists of $20 million FCCBs due on 2008, the series B offer consists of $6 million due on 2010.

The EMG Corporate Finance of UK has been mandated as a lead manager to the offer, with the offer expected to close on March 08, 2005, the release said.

The conditional offer of FCCBs would be subject to shareholders approval, which is expected to be received at the EGM of shareholders to be held on March 15, 2005, the release added.