Kesar Enterprises approves conversion of OCPS to shares

The Board of Directors of Kesar Enterprises Ltd at its meeting held on May 08, 2014, has approved conversion of 28,95,900 Optionally Convertible Preference Shares (OCPS) amounting to Rs. 2,89,59,000/- into 13,79,000 Equity Shares of Rs. 10/- each at a price of Rs. 21/- per share (including premium of Rs. 11/-).

The Board also approved extension of the accounting year ending from June 30, 2013 to September 30, 2014 (15 months).

Source : Equity Bulls

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