SUBEX LTD. - Outcome of Board Meeting

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14 May 2015
Subex Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 14, 2015, has approved the following items:<BR><BR>1. Vacation of office of directorship by Mr. Subash Menon, Non-Executive Director under the provisions of section 167(1)(b) of the Companies Act, 2013 with effect from April 01, 2015.<BR><BR>2. Pursuant to the meeting of the Board held on April 28, 2015, the Board approved the reset of conversion price of the FCCB III which are convertible into equity shares of the Company, from Rs. 22.79 to Rs. 13.00. As a result of the reset of conversion price, subject to necessary approvals, the said bonds as currently outstanding of face value of US $ 76.53 million would potentially be converted into 32,99,88,530 shares at an exchange rate of Rs. 56.05.
View all announcements for SUBEX LTD.	Source: BSE India

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