Cranes Software cuts conversion price on 2.5% convertibles

By Laura Lutz

Des Moines, April 9 - Cranes Software International Ltd. announced that the conversion price of the company's 2.5% convertible bonds due 2011 has been cut to Rs. 115 per share from Rs. 143.293 per share.

There is €42 million principal amount of the convertibles outstanding.

As a result of the change, the number of shares that would be issued upon conversion of all of the bonds has risen to 19,240,675 from 15,441,631.

Cranes is a Bangalore, India-based designer of engineering and scientific software.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.