Held on 14 May 2015
Subex announced that the Board of Directors of the Company at its meeting held on 14 May 2015, has approved the following items:1. Vacation of office of directorship by Subash Menon, Non-Executive Director under the provisions of section 167(1)(b) of the Companies Act, 2013 with effect from 01 April 2015.
2. Pursuant to the meeting of the Board held on 28 April 2015, the Board approved the reset of conversion price of the FCCB III which are convertible into equity shares of the Company, from Rs. 22.79 to Rs. 13.00. As a result of the reset of conversion price, subject to necessary approvals, the said bonds as currently outstanding of face value of US $ 76.53 million would potentially be converted into 32,99,88,530 shares at an exchange rate of Rs. 56.05.
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