Kinetic Engineering to allot 540000 shares to Micro Age Instruments Pvt Ltd

Kinetic Engineering Ltd has announced that the Allotment Committee of the Board of Directors of the Company at its meeting held on June 26, 2008, inter alia, have passed the resolution to issue 5,40,000 Nos. of Equity shares of Rs 10/- each fully paid-up at Rs 156/- per Equity share (including premium of Rs 146/- per share), in the share capital of the Company to Micro Age Instruments Pvt Ltd (MAIPL) upon conversion of 5,40,000 Optionally Convertible Cumulative Preference shares (OCCPS) of Rs 156/- each issued to them on December 30, 2006 on preferential basis, in accordance with the Guidelines prescribed by SEBI in the Chapter XIII of the SEBI (Disclosure and Investor Protection) Guidelines, 2000.

Source : Equity Bulls

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