WS Industries to issue NCCRPS

WS Industries India Ltd has announced that in terms of the resolution passed at the Company's Extra Ordinary General Meeting held on January 23, 2008 wherein the shareholders had approved the issue of 3,50,000 Non-Convertible Cumulative Redeemable Preference Shares of Rs 100/- each to Promoters by way of private placement and on an application received from M/s. Vensunar Pvt. Ltd, one of the Promoters of the Company, the Board of Directors at its meeting held on January 28, 2009 resolved to issue the said 3,50,000 Non-Convertible Cumulative Redeemable Preference Shares of Rs 100/- each to M/s. Vensunar Pvt. Ltd in one or more tranches, subject to the following terms:

1. The Coupon rate of dividend will be 10% per annum.

2. The entire amount shall be redeemed on or before February 28, 2013.

Source : Equity Bulls

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