Question

Write a letter to a debentureholder informing him about conversion of debentures into equity shares. 

Answer 1

Rainbow Industries Limited

50/A, Swami Narayan Road, Tunga Village, Mumbai - 72 http/www rainbowindustries.co.in      

Ref.: Rainbow/27/2012-13                                                     Date : 2^nd May, 2012

Mr. Sanjay P Patil

Smruti Niwas, Jiva Mahale Road,

Santacruz (W), Mumbai - 54.

 

   Sub : Conversion of debentures into equity shares 

Dear Sir, 

  I am directed to inform you that in accordance with the terms decided at the time of issue of 1,00,000, 12.5% convertible debentures, the debentures would be eligible for full. conversion into equity shares, on expiry of 3 years, from the date of issue of debentures.

  In accordance with the above a special resolution was passed at the Extraordinary General Meeting held on 20^th April, 2012 for approval of conversion of debentures into equity shares.

As per your letter of option you have been allotted 10 equity shares in lieu of your 50 debentures. These shares shall rank on par with the existing equity shares. Details of your holding after conversion are as follows. 

Reg. Folio	No. of Debentures held	No. of equity shares issued	Share Certificate No.	Distinctive Nos.
				From	To
227	50	10	245	61	70

Duly signed and executed share certificate is enclosed.

Debenture certificate will be null and void w e.f. 30^th April, 2012.

Thanking you.                                     

Yours faithfully,

                                                          For Rainbow Industries Ltd.

                                                                                      Sd/-

 Encl : Share Certificate                                        Secretary