Grabal Alok Impex Ltd has informed BSE that with reference to the unsecured Foreign Currency Convertible Bonds (FCCBs) aggregating to USD 25 million issued and allotted in March 2007. As per the terms of the Offering Circular dated March 01, 2007, the conversion price for the FCCBs aggregating to USD 20 million (”the Series B Bonds”) was to get adjusted downward on the reset date in accordance with the following formula prescribed in the said Offering Circular.

Further the Company has informed that, on the Reset date, the reset clause on the conversion price has been triggered and accordingly the Conversion Price for the Series B Bonds stands revised to Rs l36/-.