Exicom B.V. converts $1.5M OCDs, diluting parent stake to 90.29%

Exicom Power Solutions B.V., a material subsidiary of Exicom Tele-Systems Ltd, has approved the conversion of Optionally Convertible Debentures (OCDs) worth USD 1.5 million into ordinary equity shares. This conversion, along with previous ones totaling USD 7 million, has diluted Exicom Tele-Systems' shareholding in its Dutch subsidiary from 92.23% to 90.29%. Despite the dilution, Exicom B.V. will continue to be classified as a material subsidiary. The OCDs were originally issued to a third-party foreign investor.