S.Kumars Nationwide Board to consider allotment of securities on preferential basis

S.Kumars Nationwide Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 10, 2007, inter alia, to consider the Audited Accounts for the financial year ended March 31, 2007 and audited results for the year March 31, 2007 and results for the Quarter ended March 31, 2007.

The Board inter alia shall also consider the following other business which have already been approved by the members:

1. To allot Equity Shares on a preferential basis aggregating Rs 15 Crores to S. Kumars Enterprises (Synfabs) Ltd.

2. To allot Equity Shares on a preferential basis aggregating Rs 5 Crores to

Ani-Abhi Investment Pvt Ltd Rs 1 Crore
Anjani Finvest Pvt Ltd Rs 1 Crore
Girija Holdings Pvt Ltd Rs 1 Crore
Raj Infin Pvt Ltd Rs 1 Crore
Vidhi Holding Pvt Ltd Rs 1 Crore

3. To allot 1,31,22,400 Fully Convertible Debentures (FCDs) of Rs 82.50 each aggregating Rs 108,25,98,000/- on a preferential basis to Anjani Finvest Pvt Ltd., an entity belonging to Promoter Group.

4. To allot 66,25,000 Equity Share Warrants - "Series A" on a preferential basis to Mauritius Debt Management Ltd., Mauritius.

5. To allot 53,00,000 Equity Share Warrants - "Series B" on a preferential basis to

a. Ingenious Finance & Investment Pvt Ltd: 26,50,000 no of warrants "Series B" proposed to be allotted

b. Verve Properties & Investment Pvt Ltd: 26,50,000 no of warrants "Series B" proposed to be allotted

6. To allot Non Convertible Debentures upto Rs 350 Crores to India Debt Management Ltd, India / Asia Debt Management Hong Kong Ltd (ADM Capital).

Source : Equity Bulls

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