Kinetic Motor allots Preference Shares

Kinetic Motor Company Ltd has announced that the Preference Share Committee of Board of Directors of the Company at its meeting held on March 31, 2007, made allotment of 24,00,000, 8.5% New Optionally Convertible Cumulative Preferences Shares (8.5% New OCCPS) of Rs 65/- each to MicroAge Instruments Pvt Ltd and 6,77,000 8.5% New OCCPS of Rs 65/- each to Jaya Hind Sciaky Ltd. Each 8.5% New OCCPS is convertible into one Fully paid-up Equity shares of Rs 10 each at premium of Rs 55 per share within 18 months from date of allotment.

Source : Equity Bulls

Keywords