Max India Outcome Of Board Meeting (11-Mar-2010)
Max India Ltd has informed that the Board of Directors of the Company at its meeting held on March 11, 2010, has approved allotment of 6,019,925 (Six million Nineteen thousand Nine hundred and Twenty five) 12% Compulsorily Convertible Debentures of Rs. 867/- each (CCDs) of the Company to Goldman Sachs Capital Partners through its wholly owned subsidiary Xenok Ltd., for an aggregate consideration of Rs. 5,219,274,975/- (approx US $ 115 million). Subject to any applicable adjustments, each CCD will be compulsorily converted into four equity shares of Rs. 2/- each at a premium of Rs. 214.75 per equity share on or before 15 (fifteen) months from the date of allotment.
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