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Mascon Global securities issue

CHENNAI: At the extra-ordinary general meeting of Mascon Global Ltd, the company's shareholders approved the issue of securities by way of GDR/ADR, ECBs, FCCBs and SPN for an aggregate amount not exceeding $150 million.

The securities will be given to domestic or foreign investors whether institutions, incorporated bodies, mutual funds and/or individuals or otherwise and whether or not such investors are members, promoters, directors or their associates.

The shareholders also approved the private placement of equity shares, to the extent of Rs 150 crore (including premium), directly or through the medium of warrants, fully convertible debentures, partly convertible debentures or other securities to be co nverted into equity shares on preferential basis to resident Indians, non-resident Indians, domestic bodies-corporate, overseas corporate bodies, financial institutions, pension funds, mutual funds, private equity funds, banks and foreign institutional i nvestors, whether shareholders or not. -- Our Bureau