Radico Khaitan allots CCCPSs to Acacia Partners, LP

Radico Khaitan Ltd has announced that pursuant to the approval of the shareholders at their Extra Ordinary General Meeting held on August 10, 2006, the Company on August 24, 2006 has issued and allotted 57,68,276 6.75% Cumulative Compulsorily Convertible Preference Shares (CCCPSs) of Rs 100/- each at the premium of Rs 59.50 per share to Acacia Partners, LP (4037793 - Nos), Acacia Institutional Partners, LP (1499752 - Nos) and Acacia II Partners, LP (230731 - Nos), all affiliates of Ruane, Cunniff and Goldfarb Inc., a U.S.A. based Foreign Institutional Investor, for an aggregate amount of USD 20 million on the terms and conditions, as approved by the Board and the Shareholders. The CCCPSs shall be convertible into Equity shares of the Company in one or more tranch or trances at the sole option of the holders of the Preference shares at any time within a period of 18 months from the date of issue and allotment into 57,68,276 fully paid Equity Shares of Rs 2/- each at a premium of Rs 157.50 per share and any CCCPSs that remain unconverted within the said 18 months period shall be compulsorily converted by the Company at the end of the said period at the same price.

Source : Equity Bulls

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