On conversion of FCCBs
Kinetic Engineering announced the outcome of the meeting of the Share Allotment Committee of Board of Director of the Company, held on 01 December 2015, wherein the following business was transacted:- Committee approved the Allotment of 23,40,499 Equity Shares of Rs. 10/- each at a Premium of Rs. 146/- per shares to 3 Foreign Currency Convertible Bond Holders viz., PineBridge Asia Partners II, L.P., AIA Singapore and AIA International as per the settlement reached with the Bondholders vide Settlement Agreement dated 21 July 2015.
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