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Chennai, June 20 (IANS) Journey main Thomas Cook dinner (NS:) (India) Ltd on Monday mentioned the Sub-Committee of the Board of Administrators, has permitted the conversion of the stability Rs 132.9 crore Optionally Convertible Cumulative Redeemable Desire Shares (OCCRPS) held by the promoter Fairbridge Capital (Mauritius) Restricted (FCML), into 2.8 crore fairness shares.
The Firm had earlier transformed Rs 302 crore OCCRPS into 6.4 crore fairness shares on March 17, 2022.
Consequently, the whole OCCRPS of Rs 435.7 crore has been transformed into 9.2 crore fairness shares at Rs 47.30 per share, thereby rising the Promoters’ shareholding to 72.34 per cent.
In line with Madhavan Menon, Managing Director, Thomas Cook dinner the conversion of the stability convertible desire shares into fairness, will increase the promoter shareholding from the current 70.58 per cent to 72.34 per cent.
The conversion will serve to boost the long-term capital base of the corporate, strengthen the stability sheet.
–IANS
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