KS Oils EGM approves issue of FCCBs / GDRs, to increase FII limit to 49%

KS Oils Ltd has announced that the members at the Extra-Ordinary General Meeting (EGM) of the Company held on September 15, 2006, inter alia, have approved the following:

1. Issue / offer Foreign Currency Convertible Bonds (FCCBs) / Global Depository Receipts (GDRs) or any other form of receipts or instruments or securities convertible into equity shares in the international markets upto USD 20 millions or equivalent thereof.

2. Increase in the Investment Limit of Foreign Institutional Investors (FIIs) and NRI in the paid up equity share capital of the Company up to 49% and 24% respectively of the total share capital.

Source : Equity Bulls

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