Bookham ( BKHM) shareholders approved the company's plan to issue 1.1 million shares underlying the conversion of its 7% senior unsecured convertible debentures. The San Jose, Calif., company, which sells optical components, modules and subsystems, said it also issued an additional 178,990 shares and warrants to purchase up to 95,461 shares, and paid the debenture holders $538,409 in cash. As a result, all of Bookham's 7% senior unsecured convertible debentures have now been converted, and the company no longer has any debt outstanding. Bookham shares have risen fivefold over the last year as investors bet that the fast communications gear made by the company and peers like JDSU ( JDSU) and Finisar ( FNSR) will be in heavy demand as telecom and cable operators compete to offer consumers a broad range of services. On Monday, Bookham shares rose a quarter to $8.72.