India’s Gujarat NRE Coke gets OK to reset conversion price of bonds

By Tali Rackner

Norfolk, Va., Aug. 14 – Gujarat NRE Coke Ltd. informed the Bombay Stock Exchange that its board of directors met on Thursday and approved the following:

• Resetting the conversion price of foreign currency convertible bonds issued in 2012;

• The issue of 4 million convertible warrants to Bennett Coleman & Co. Ltd. under a private placement basis;

• The issue of 25 million convertible warrants to promoters and related entities under a private placement; and

• Moving the cutoff date for e-voting for the businesses to be transacted at the company’s 27th annual general meeting to Aug. 16.

The coke producer is based in Kolkata, India.

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