At meeting held on 14 June 2017Gati announced that the Board of Directors of the Company at its meeting held on 14 June 2017 has approved -
Redemption of 7,528 no's of Foreign Currency Convertible Bonds (FCCBs) as per the redemption notices received from the bondholders amounting to USD 99,99,750 in accordance with the terms of the FCCBs set out in the offer circular dated 12 December 2011;
Allotment of 99,99,499 equity shares of face value Rs.2/- each upon conversion of 7,373 no's of FCCBs as per the conversion notices received from the bondholders in accordance with the terms of the FCCBs set out in the offer circular dated 12 December 2011.
Consequently, the Equity Share Capital of the Company has increased from 8,83,70,370 Equity shares to 9,83,69,869 Equity shares.
Further the board of directors has empowered the FCCB Committee of the directors to consider and if deem fit to approve, the conversion / redemption of balance 7,281 FCCBs.
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