India Globalization Capital, Inc. Extends the Program for Early Exercise of Warrants To Purchase Common Stock
2008年12月22日 - 10:00PM
PRニュース・ワイアー (英語)
BETHESDA, Md., Dec. 22 /PRNewswire-FirstCall/ -- India
Globalization Capital, Inc. ("IGC" or the "Company"),
(AMEX:IGC.UAMEX:IGC.WSAMEX:IGC), a company developing
infrastructure in India, is extending its offer for the early
exercise of warrants to purchase common stock to expire on Tuesday
January 6, 2009 at 5:00 p.m. EST. The Company is offering the
holders of all 22,609,000 outstanding, publicly traded warrants ("
Public Warrants") and of 1,190,000 warrants issued by the Company
in private placements (the 'Private Warrants' and collectively with
the Public Warrants, the "Warrants") the opportunity, for a limited
time, to acquire shares of common stock. IGC is modifying the terms
of the Warrants to (1) permit, instead of paying the purchase price
of $5.00 in cash, the exchange of 5 Warrants and $0.55 for one
share of Common Stock and (2) permit the exercise of a Warrant such
that the Holder will receive one share of Common Stock in exchange
for every 12 Warrants surrendered. Warrant holders may use one or
both methods in exercising the warrants for Common Stock. The offer
commenced on Monday, November 24, 2008 at 4:01 p.m., EST, and will
expire on Tuesday, January 6, 2009 at 5:00 p.m., EST (the "Offer
Period"). Upon termination of the offer, the original terms of the
Warrants will be reinstituted, the Public Warrants will expire
according to their terms on March 3, 2011 and the Private Warrants
will expire according to their respective terms. This expiration
could be accelerated by redemption as outlined in IGC's filings
with the SEC related to the original issuance of the Warrants. "We
are making this offer to raise additional capital and reduce the
number of Warrants outstanding. We believe the program is
attractive to our Warrant holders and look forward to a substantial
number of Warrants being exercised." Said Ram Mukunda, CEO of IGC.
The terms and conditions of the offer are set forth in the
documentation distributed to record holders of IGC warrants
(AMEX:IGC.WS) and IGC units (AMEX:IGC.U) as of November 24, 2008. A
copy of the offering document and supplement number one relating to
the offer may be obtained from Morrow & Co., LLC, the
Information Agent for the offering. Morrow's telephone number for
bankers and brokers is (800) 662-5200 and for holders of Warrants
is (800) 607-0088. Please contact the Information Agent with any
questions regarding the offering. The foregoing reference to the
offer and any other related transactions shall not constitute an
offer to buy or exchange securities or constitute the solicitation
of an offer to sell or exchange any securities in IGC or any of its
subsidiaries. Investors and security holders are urged to read the
following documents filed with the SEC, as amended from time to
time, relating to the offer as they contain important information:
(1) the Company's registration statement on Form S-1; (2) the
Schedule TO and (3) Supplement number 1 to offer letter. These and
any other documents relating to the offer, when they are filed with
the SEC, may be obtained at the SEC's website at
http://www.sec.gov/, or from the Information Agent as noted above.
About IGC Based in Bethesda, Maryland, IGC operates through two
infrastructure companies in India, Sricon Infrastructure Private
Limited ("Sricon") and Techni Bharathi, Limited ("TBL"). IGC owns
sixty-three percent of Sricon and seventy-seven percent of TBL. IGC
through its subsidiaries in India has three lines of business: 1)
Highway and other heavy construction, 2) mining & quarrying and
3) civil construction and engineering of high temperature plants.
The Company's medium term plans are to expand each of these lines
of business. IGC's operations are based in India. The company has
offices in Maryland, Mauritius, Nagpur, Cochin, Delhi and
Bangalore. Copies of the Form S-1 and IGC's other filings with the
SEC containing information about IGC, our Indian operations and
other relevant documents, are available at no charge at the SEC's
Internet site (http://www.sec.gov/). For more information about
IGC, visit the company's web site at
http://www.indiaglobalcap.com/. Forward-Looking Statements: This
press release may contain forward-looking statements. These
statements reflect management's current views and are subject to
risks and uncertainties that could cause actual results to differ
materially from those projected, expressed or implied in these
statements. Factors, which could cause actual results to differ,
relate to: (i) the ability of the parties to successfully execute
on the contracts and business plan, (ii) our ability to raise
additional capital and the structure of such capital including the
exercise of warrants, and (iii) changes in the exchange rate
between the US dollar and the Indian Rupee. We undertake no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise.
Other factors and risks that could cause or contribute to actual
results differing materially from such forward looking statements
have been discussed in greater detail in the Company's registration
statement on Form S-1. DATASOURCE: India Globalization Capital,
Inc. CONTACT: John Selvaraj, India Globalization Capital, Inc.,
+1-301-983-0998, ; or Investor Relations, Jon Cunningham, RedChip
Companies, Inc., 1-800-733-2447, Ext. 107, ,
http://www.redchip.com/ Web Site: http://www.indiaglobalcap.com/
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India Globalization Capital (AMEX:IGC.U)
過去 株価チャート
から 8 2024 まで 9 2024
India Globalization Capital (AMEX:IGC.U)
過去 株価チャート
から 9 2023 まで 9 2024