India Resources (ASX: IRL) has received a notice for the conversion of two convertible notes each with a face value of $125,000 from Alexandra Resources Pty Ltd (Alexandra).
In accordance with the terms of the convertible notes, 12,437,810 ordinary fully paid shares have been issued to Alexandra.
A further one convertible note with a face value of $125,000 remains on issue to Alexandra.
This notice is given by the company under section 708A(5)(e) of the Corporations Act in relation to an issue of ordinary fully paid shares by the company without disclosure to investors under Part 6D.2 of the Corporations Act.
http://www.proactiveinvestors.com.au/companies/news/6514/india-resources-receives-conversion-of-convertible-notes-notice-6514.html
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