Jain Irrigation - Outcome of Board Sub-Committee Meeting
Jain Irrigation Systems Ltd has informed BSE that the Sub-Committee of Board of Directors of the Company at its meeting held on May 08, 2008, has passed the resolution pursuant to approval of the Shareholders at their meeting dated January 31, 2006, that 64,180 Equity Shares of Rs 10 each for cash at a premium of Rs 335.59 each aggregating to Rs 2,21,80,000 of the Company be and are hereby authorized to be issued and allotted to Goldman Sachs Investments (Mauritius) I Ltd - FCCB in lieu of conversion of 500 Bonds of USD 1,000 each, as per Notification dated May 06, 2008 received:
1. No of Bonds - 500
2. Face Value - USD 1,000 each
3. Total Amount - USD 5,00,000
4. Fixed Exchange Rate Rs / USD - Rs 44.36
5. Amount (3*4) - Rs 2,21,80,000
6. Fixed Conversion Price - Rs 345.59
7. No of Shares to be issued in conversion (5/6) - 64,180.
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