25 Sep 2009 07:00
September 24, 2009
Dear Sirs,
We wish to inform you that the duly authorized Committee of the Board of the Company has, at its meeting held on September 24, 2009 decided to invite holders of its outstanding US$180 million 2% Coupon Convertible Unsecured Bonds due 2012 (ISIN: XS0289206285) (the "Existing Bonds") to offer to exchange any or all of such Existing Bonds for new US$-denominated convertible unsecured bonds due 2012 (the "New Bonds"). The floor price for the New Bonds shall be Rs. 80.31/-. Barclays Bank PLC is acting as Dealer Manager of the transaction.
Further, duly authorized Committee of the Board of the Company has, at its meeting held on September 24, 2009 decided to (i) increase the authorized share capital of the Company to Rs. 130,00,00,000 (Rupees One Hundred and Thirty Crores only) divided into 12,80,40,000 (Twelve Crore Eighty Lakhs and Forty Thousand only) equity shares of Rs. 10 (Rupees Ten only) and 2,00,000 (Two Lakhs) preference shares of Rs. 98 (Rupees Ninety Eight Only) (ii) issue equity shares and/or convertible instruments convertible into up to 80,000,000 (eighty million) equity shares of the Company and (iii) convene an extraordinary general meeting for the same to be held on October 20, 2009.
Kindly take the above notification on record. This is for your information as also for the information of your members and the public at large.
Thanking you,
Yours faithfully,
For Subex Limited
Raj Kumar
Chief Counsel & Company Secretary
Nothing in this Announcement constitutes an offer to buy, or a solicitation of an offer to sell, securities in the United States, the Republic of Italy, the Republic of India or any other jurisdiction in which such offer or solicitation would be unlawful.
SUBX.L (SUBX)