KS Oils allots shares on preferential basis

KS Oils Ltd has announced that the Board of Directors of the Company at its meeting held on August 22, 2007, has approved the following:

1. Allotment of 21,479,710 equity shares of Rs 1/- each issued at a premium of Rs 40.90 to Baring Private Equity Asia III Mauritius Holdings (3) Ltd.

2. Allotment of 90,720 equity shares of Rs 1/- each issued at a premium of Rs 40.90 to keshav Bhujle and Gautam Nayak (in their capacities as trustees of the following trust:

(i) CVCIGP II P R Srinivasan Trust: upto 4780 Equity Shares

(ii) CVCIGP II Vinayak Shenvi Trust: upto 4780 Equity Shares

(iii) CVCIGP II Ajay Relan Trust: upto 7,1600 Equity Shares

(iv) CVCIGP II Vivek Chhachhi Trust: upto 4780 Equity Shares

(v) CVCIGP II Jayanta Kumar Basu Trust: upto 4780 Equity Shares

3. Preferential Issue of 23,866,350 warrants to be convertible into equity shares of Re 1/- each to be issued at a premium of Rs 40.90 to promoters of the Company.

Source : Equity Bulls

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