GAMMON INDIA LTD. - Updates

Gammon India Ltd has informed BSE that the Company has received a "Notice of Conversion" from DBS Bank (one of the Joint Lenders) for conversion of part of outstanding debt into equity shares under the Strategic Debt Restructuring Package of the Company. Pursuant to this notice, DBS Bank has decided to convert part of its outstanding debt and interest aggregating to Rs. 4.90 crores into 4,124,496 equity shares of the Company of face value of Rs. 2/- each at a price of Rs. 11.89 per equity share. Post this conversion the total shareholding of the CDR Lenders and DBS Bank will be 63.07% of the total equity capital of the Company.