The committee of Subex has approved the issuance of U.S.$ 98,700,000 5 per cent. convertible unsecured bonds of U.S.$ 100,000 or integral multiples of U.S.$ 1,000 in excess thereof, each of the Company. The initial conversion price of the Bonds is Rs. 80.31, the Bonds mature on 09 March 2012 and have a coupon rate of 5 per cent. The Bonds are to be listed on the Singapore Exchange Securities Trading.
This was approved at the committee meeting held on 02 November 2009.