Oswal Spinning allots CRPS

Oswal Spinning & Weaving Mills Ltd has announced that the Board of Directors of the Company at its meeting held on November 12, 2007, has pursuant to the Order dated October 23, 2007 by Hon'ble Board for Industrial and Financial Reconstruction (BIFR), allotted 171031450 0.1% Fully Paid Cumulative Redeemable Preference Shares (0.1% CRPS) of Re 1/- each for cash at par to the Secured Lenders of the Company by way of conversion of part of their outstanding Principal amount into CRPS under the CDR approved OTS Scheme of the Company.

Source : Equity Bulls

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