Foreign Currency Option

1. To issue, offer and allot on behalf of the Company, in one or more lots (including with provision for reservation on firms and / or competitive basis) of public or private offerings in domestic and / or international markets, through prospectus and / or offer letter or other permissible / requisite offer document, Foreign Currency Convertible Bonds (FCCBs), and /or American Depository Receipts (ADRs) / Global Depository receipts (GDRs) / other Depository receipts and / or Equity Shares/ Preference Shares / Fully Convertible Debentures / Partially Convertible / Non-Convertible Debentures / Optionally Fully Convertible Debentures / Bonds, or any other instruments (including shares without voting rights attached to them or global depository receipts), with or without detachable warrants, whether secured by way of creating charge on the assets of the company or unsecured, as may be decided by the Board of Directors, either in Rupees or in any such appropriate foreign currency as may be permitted by law for an aggregate value as may be decided by the Board of Directors of the Company with or without attachable or detachable warrants, securities in registered or bearer forms, to the Promoters / Directors, their Friends and Relatives and Associates / Group Companies, Members, Employees under Stock option Scheme and / or otherwise, Non-Resident Indians, Indian Public, Overseas Corporate Bodies, International Institutions, Foreign Institutional Investors / Foreign Companies, whether incorporated or not, Companies, Mutual Funds, Financial Institutions or other entities as may be allowed under applicable rules and regulations and to such persons (whether shareholders of the Company or not) by public issue, rights issue / private placements, preferential issues, bought out deals, reservations, firm commitments, employees stock option scheme or by any one or more of the above methods or by any other terms and conditions including the face value, premium amount, premium on conversion or at discount, provided that amount on conversion of convertible debentures shall be as per applicable SEBl guidelines which will be duly certified by the Auditors of the Company, number of conversions, number of tranches, exchange price for warrants / options, rate of interest, redemption period, manner of redemption, amount of premium on redemption / conversion, nature of security, manner of calls and other connected matters with authority to retain such over-subscription of the amount as may be permitted by law for an aggregate amount not exceeding USD 24.00 Million (with permissible green shoe option) or equivalent in Indian and or in any other currency(ies) (inclusive of such premium, as may be fixed on such equity shares) or upon such limit as may be permitted by the Ministry of Finance or Reserve Bank of India or such other Authorities which ever is higher, directly to Indian 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 of the company through public issues, rights issues, private placements, preferential allotment for cash or stock swap or acquisition of business / companies or a combination thereof at such time or times and in such tranches at such price or prices, at discount or premium to market price or prices in such manner and on such terms and conditions including security, rate of interest etc as may be decided and deemed appropriate by the board at the time of such issue or allotment considering the prevailing market conditions and other relevant factors wherever necessary in consultations with the lead managers and underwriters or through the subsidiaries so as to also enable the company to get listed at the Indian Stock Exchanges and Overseas Stock Exchanges / or such as Singapore, Luxemburg, London, Nasdaq and or New York Stock Exchange and or any other overseas stock exchange, subject to necessary provisions and approvals.

The Philadelphia Stock Exchange Announces Launch Of PHLX Foreign ...

The Philadelphia Stock Exchange (PHLX) announced today the launch of PHLX modified foreign exchange spot rates for the Euro (XDE) and British Pound (XDB). PHLX will disseminate a modified spot rate beginning Friday, March 30. Pursuant to the Exchange's modified spot rate methodology, if the British Pound is valued at 1.9750, the modified rate will be disseminated as 197.50.

"Investors will now have a readily available Euro and British Pound spot rate to assess foreign exchange trading opportunities by simply typing into their broker-dealer's website the symbols XDE and XDB," said Daniel R. Carrigan, PHLX's vice president of new product development. "These modified spot rates make the trading of PHLX World Currency Options similar to the experience of trading equity and index options in options-approved securities accounts for the retail investor," he said.

Dollar drops to six-year low against local currency

The dollar hit an almost six-year low on Friday against the shekel: NIS 4.155. Yesterday the greenback recovered slightly in options trading on the Tel Aviv Stock Exchange, since there is no foreign currency trading on Sundays. The shekel-dollar exchange rate reached NIS 4.161.

To weaken the shekel, the Bank of Israel has been cutting interest rates. But it hasn't worked as foreign investors continue to buy shekels to make investments in Israel.

Romania May Benefit From Slower Euro Path - Central Banker

PRAGUE (Dow Jones)--Romania plans to enter the exchange rate mechanism in 2012, as a prelude to joining the euro, thereby gaining time to push through necessary domestic reforms and also allowing its own currency to achieve a viable rate against the single currency, the deputy governor of the National Bank of Romania said Tuesday. With low debt and a modest budget deficit, Romania could plausibly push for earlier adoption of the euro. But successful entry into the euro area will require reforms and "we need the time to carry that out," Deputy Governor Cristian Popa said at a conference in Prague. Maintaining monetary and foreign exchange flexibility - which would be significantly surrendered if Romania were to join the ERM2 system for aspiring euro area members - should help execute structural reforms such as making labor markets and the whole economy more flexible, Popa said.

Toronto Office Opening Expands HiFX’s Global Reach

The new office, HiFX's eighth worldwide location, bolsters HiFX's global network, providing its clients with speed, efficiency, and extensive access to the world's foreign exchange markets.

Joining Glover in the new office is a team of 10 foreign exchange professionals, bringing expertise in spot, forwards, and options.