Exicom TeleSystems stake in Dutch unit Exicom Power Solutions B.V. falls to 90.29% after $1.5 million OCD conversion
Exicom Tele-Systems Limited’s holding in its Dutch subsidiary, Exicom Power Solutions B.V., was diluted to 90.29% from 92.23% after the subsidiary’s board approved the conversion of $1.5 million in Optionally Convertible Debentures (OCDs) into ordinary shares. The conversion is part of an ongoing capital restructuring, taking total OCD conversions to $7 million. Following the transaction, a foreign investor holds 9.71% of the subsidiary’s equity.
