Apar Industries to allot 3445978 shares at Rs.185 to Shinny Ltd

Apar Industries Ltd has announced that Share Issue Committee of the Directors of the Company at its meeting held on October 11, 2006 has transacted the following:

1. Allotted 34,45,978 Equity Shares of Rs 10/- each at a premium of Rs 175/- per share to Shinny Ltd, Mauritius, upon conversion of 34,45,978 - 5.40 % Cumulative Compulsorily Convertible Preference Shares of Rs 185/- each held by them.

2. The aforesaid Equity Shares shall rank pari-passu in all respects with the existing Equity Shares.

3. Upon issue of these 34,45,978 Equity Shares, the aforesaid Preference Shares shall be treated as cancelled and extinguished.

Source : Equity Bulls

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