You are here » Home » Companies » 3i Infotech Ltd - Announcements

3i Infotech Ltd.

BSE: 532628 Sector: IT
BSE 00:00 | 24 Apr 2020 3i Infotech Ltd
NSE 05:30 | 01 Jan 1970 3i Infotech Ltd

Outcome of FCCB Committee Meeting

July 6, 2016, 8:10 am | Source: BSE

3i Infotech Ltd has informed BSE that as recommended by the Board of Directors of the Company (the Board) in its meeting dated February 11 2016 the FCCB Committee of the Board at its meeting held on July 05 2016 has approved the following:

1. Issuance of foreign currency convertible bonds of up to US$ 52000000 (New Bonds) to the existing bondholders of the Company in exchange for the existing foreign currency convertible bonds i.e. US$ 125356000 5 per cent convertible bonds due 2017 (the 5% Bonds) and US$ 2435000 4.75 per cent convertible bonds due 2017 (the 4.75% Bonds and together with the 5% Bonds the Existing Bonds); and

2. Amendment to the terms of the Existing Bonds (to the extent not exchanged pursuant to the exchange offer).

The New Bonds will be listed on Singapore Exchange Securities Trading Limited and the FCCB Committee has decided to open the Issue on July 05 2016. The floor price for the conversion of the bonds shall be Rs. 10 (the face value).

The Company has also issued notices to convene a meeting of the holders of the Existing Bonds on July 27 2016 for approving the aforesaid amendments to the terms of the Existing Bonds.