The board of Mercator Lines has recommended dividend at the rate of Rs 1.10 per shae (110%) for the financial year ended on 31 March 2008.
Further, the board has approved allotment of 7,31,124 equity shares of Re 1 each in lieu of surrender of FCCBs aggregating US$ 1,000,000 from bond holders at a conversion price of Rs 59/812.
Consequently, the paid up capital of the company has increased to 23,59,92,073 equity shares of Re 1 each. With this conversion, now there are 700 FCCB's outstanding of aggregate amount of US4 7,000,000.
This was recommended at the board meeting held on 14 May 2008.
Further, the board has approved allotment of 7,31,124 equity shares of Re 1 each in lieu of surrender of FCCBs aggregating US$ 1,000,000 from bond holders at a conversion price of Rs 59/812.
Consequently, the paid up capital of the company has increased to 23,59,92,073 equity shares of Re 1 each. With this conversion, now there are 700 FCCB's outstanding of aggregate amount of US4 7,000,000.
This was recommended at the board meeting held on 14 May 2008.
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