Pidilite Industries Ltd has informed BSE that as the Company had made an issue of 400, Foreign Currency Convertible Bonds (Bonds) in December, 2007 and the same have been allotted to the respective subscribers. Till date, the Company have not had any tender by a Bondholder of the Bonds for conversion into equity shares under the option attached to the Bonds. Recently, however, the Company have received a request from a Bondholder for such conversion and the Company have reason to believe that there may be similar tenders in the neat future for conversion of the Bonds.
To ensure expeditious allotment of shares to such tenderers, it is considered appropriate that a committee of the Board of Directors be appointed, pursuant to the powers conferred by Article 135 of the Articles of Association, to act on such tenders and make allotment of shares.
Accordingly, a meeting of the Board of Directors will be held on June 03, 2011 to consider and if thought fit to appoint a Committee for allotment of equity shares to the FCCB holders who exercise their option.Read More
Sensex
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Wednesday, June 01, 2011
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