SUBEX LTD. - Update - Conversion of FCCBs

Subex Ltd has informed BSE that the Company has allotted 28,28,550 equity shares pursuant to the conversion of US$ 11,50,000 out of the Company's US$ 127,721,000 5.70 per cent secured convertible bonds due 2017 on April 15, 2015. Post the conversion, FCCBs aggregating to US$ 77.38 million are outstanding under the said Bonds.<BR><BR>Subject to the listing & trading approval of the stock exchanges the paid up share capital of the Company has increased from Rs. 190,30,14,030 to Rs. 193,12,99,530.