KS Oils Ltd board approves preferential issue, FII limit increased to 49%

KS Oils Ltd has announced that the Board of Directors of the Company at its meeting held on August 19, 2006, inter alia, has approved the following:

1. The Board has made allotment of 9,00,000 equity shares of Rs 10/- each at a premium of Rs 215/- per share on preferential basis to promoters and others as per the SEBI (DIP) guidelines, 2000.

2. The Board has also decided to Increase the Investment Limit of Foreign Institutional Investors (FIIs) in the paid up equity share capital of the Company up to 49%, of the total share capital / voting rights subject to the approval of the members at the Extraordinary General Meeting of the Company scheduled to be held on September 15, 2006.

Source : Equity Bulls

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