Tuesday, April 3, 2012

Assam Company redeems FCCB of $21.07 mn; $10.73 mn pending.

Assam Company has redeemed foreign currency convertible bonds (FCCBs) of USD 21.07 million with redemption premium on March 30, 2012. The company immediately applied to the RBI for extension of time upto May 31, 2012 to repay the balance unredeemed FCCBs of USD 10.73 million. Even the company asked the bondholders to allow a grace period upto May 31st.

The Bank of New York Mellon is the trustee to the company’s FCCBs.

On April 03, 2012 Cresta Fund Ltd sold 15,488,048 shares of Assam Company (India) at Rs 7.20 on the NSE, however Dune Leasing and Finance Ltd bought 15,488,048 shares at Rs 7.20 on the NSE. Yesterday the share closed at Rs 7.90.

The company's trailing 12-month (TTM) EPS was at Rs 1.13 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 6.99. The latest book value of the company is Rs 10.15 per share. At current value, the price-to-book value of the company was 0.78. The dividend yield of the company was 2.53%.

Courtesy: http://www.moneycontrol.com/news/buzzing-stocks/assam-company-redeems-fccb36-2107-mn-stock9_688321.html

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