Rain Commodities Updates on Sale of stake in GLC Carbon USA Inc ("GLC") by Rain Commodities (USA) Inc

With reference to the earlier announcement dated April 14, 2007 regarding the Company had informed that Rain Commodities (USA) Inc., (RCUSA), wholly owned subsidiary of the Company has concluded the sale of 9,324,327 - 16% Promissory notes held in GLC Carbon USA Inc ("GLC") at a price of Cdn $6.86. RCUSA has also confirmed to Oxbow GLC Canada Acquisition ULC., of its intention to sell the entire GLC Common Stock / Shares held by it at a price of Cdn $ 7.14 in cash per Share, Rain Commodities Ltd has announced that on May 08, 2007, RCUSA has sold the entire Common Stock / Shares held by it in GLC Carbon USA Inc to Oxbow GLC Canada Acquisition ULC at a price of Cdn $ 7.14 in cash per Share.

The stock was trading at Rs.122.85, down by Rs.0.25 or 0.20%. The stock hit an intraday high of Rs.122.85 and low of Rs.119.55. The total traded quantity was 2720 compared to 2 week average of 24155.

Source : Equity Bulls

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