KSL & Industries to issue shares to TV 18, Bennett Coleman & Co

KSL & Industries Ltd has announced that the Board of Directors of the Company at its meeting held on October 18, 2007, inter alia, has considered and approved the following:

1. To issue and allot the equity shares on private placement basis through Preferential Issue of:

(a) 5,92,885 equity shares of face value of Rs 4/- each at a price of Rs 253/- per share to Television Eighteen India Ltd or an entity nominated by it ("TV 18").

(b) 7,90,500 equity shares of face value of Rs 4/- each at a price of Rs 253/- per share to BENNETT, COLEMAN & CO, LTD.

(c) 3,95,500 equity shares of face value of Rs 4/- each at a price of Rs 253/- per share to Brescon Infra Pvt Ltd.

(d) 3,95,500 equity shares of face value of Rs 4/- each at a price of Rs 253/- per share to Brescon Realty Pvt Ltd.

2. To convene an Extra Ordinary General Meeting of the Company on November 16, 2007 to obtain consent of the members for the aforesaid Preferential Issue.

Source : Equity Bulls

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