KEI Industries allots shares to Golman Sachs Investments

KEI Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 11, 2007, inter alia, has decided the following:

1. Allotted 129,796 equity shares of face value of Rs 2/- each arising out of conversion of 1% FCCB for US$ 250,000 to Goldman Sachs Investments (Mauritius) I Ltd.

These shares have been issued at a price of Rs 86/- per share (equivalent to US$ 1.926 per share, considering fixed exchange rate US$ 1 = Rs 44.65) in accordance with the terms of the FCCB issue made by Company on November 29, 2006.

Consequent to this allotment, the issued, subscribed & paid-up share capital of the Company stands at Rs 11,81,99,022.

The equity shares shall rank pari-passu with the existing equity shares of the Company.

2. Constituted Share Allotment Committee with their detailed terms of reference including power to allot equity shares upon conversion of Foreign Currency Convertible Bonds (FCCB).

Source : Equity Bulls

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