The Finance Co. To Recover Sussex College Investment
Indias rupee recovered from historic lows against the dollar Friday, marking its biggest single-day gain in nearly a year, but analysts warned the currencys overall trend was still bearish. The rupee, one of Asias worst performing currencies, bounced back 2.09 percent – its biggest one-day gain since September 2012 – to end trade at 63.20 Friday, up from its record closing low of 64.55 the previous day. The Indian unit, which had hit a new lifetime intraday low of 65.56 Thursday, was boosted Friday by comments by Chidambaram and the Reserve Bank of India. Chidambaram said the currency panic was unwarranted and the rupee had overshot its appropriate level. He added there was no plan to impose more capital controls on top of ones announced this month, and that reviving growth, which hit a decade low of five percent last year, would be the governments focus.
Convertible Debenture By Business Wire August 22, 2013 | Comments (0) Sand Hill Finance LLC Converts Remaining Balance of IceWEB, Inc. Convertible Debenture Conversion Price at 38% Premium to Current Market Price STERLING, Va.–( BUSINESS WIRE )– IceWEB, Inc. (OTCBB:IWEB), an award-winning Unified Data Storage appliance provider for cloud and virtual environments, as well as the highly secure, scalable IceBOXTM BYOD (Bring Your Own Device) Private Digital CloudSolution, announced today that Sand Hill Finance, LLC has converted the remaining principal balance of $1,642,739 due on its secured convertible debenture into 37,000,000 shares of the common stock of IceWEB, Inc. The conversion price was $0.0444 cents per share, a 38% premium to the recent share price of IceWEBs common stock.
Sand Hill Finance LLC Converts Remaining Balance of IceWEB, Inc. Convertible Debenture
The current management of TFC are working towards correcting this inequitable state of affairs with the interests of their depositors in mind. Sources at TFC have confirmed that the management is focused on ensuring that Sunil Jayatissa and Sussex College pay up or transfer the beneficial ownership of that company to TFC. Senior Management at TFC state that the transaction to set up Sussex was flawed from the beginning and that Sunil Jayatissa as the Financial Director did so without adhering to proper procedure. The Sunday Leader was unable to verify this viewpoint.