OCL India Clarifies regarding Shareholding Pattern

OCL India Ltd has announced that the Company has recently offered the shares to their existing shareholders on a Right Basis. The issue was open from September 25, 2006 to October 27, 2006. During Due Diligence Audit for the Right Issue, it was discovered that due to clerical error there are some reporting mistakes in the holding of the individual promoters. However the total holding of the promoter(s) was correct. The type of discrepancies are that the holding of the HUF, Trust etc have been clubbed together with the individual holding of the Karta and Trustee respectively.

The major difference(s) between the original shareholding pattern and the revised shareholding pattern since September 2004 are as follows:

1. Shareholding Patterns for the Quarters ended September 30, 2004 and December 31, 2004

i) The Shareholdings of Shri. Raghu Hari Dalmia (10,13,475 shares equivalent to 17.07%), Raghu Hari Dalmia (HUF) (1,95,000 shares equivalent to 3.28%) and Raghu Hari Dalmia Parivar Trust (1400 shares equivalent to 0.02%) were clubbed together (aggregating to 12,09,875 shares) in the name of Shri. Raghu Hari Dalmia.

ii) The shareholding of Shri. Mridu Hari Dalmia (6,00,000 shares equivalent to 10.11%), Mridu Hari Dalmia (HUF) (2,25,000 shares equivalent to 3.79%), Mridu Hari Dalmia Parivar Trust (3,97,834 shares equivalent to 6.70%), Sharmila Dalmia Parivar Trust (2,45,000 shares equivalent to 4.13%), Aryaman Priya Trust (20,000 shares equivalent to 0.34%), Aanya Priya Trust (20,000 shares equivalent to 0.34%), Kanupriya Trust (22,300 shares equivalent to 0.38%) and Davanshi Trust (20,000 shares equivalent to 0.34%) were clubbed together (aggregating to 15,50,134 shares) in the name of Shri. Mridu Hari Dalmia.

2. Shareholding Patterns for the Quarters ended December 31, 2005 and March 31, 2006

i) The shareholding of Shri. Mridu Hari Dalmia (20,17,980 shares equivalent to 5.28% and Mridu Hari Dalmia Parivar Trust (70,86,085 shares equivalent to 18.56%) were clubbed together in the name of Shri. Mridu Hari Dalmia. The Company has now showed the correct shareholding in the respective names.

There was no change in the over all promoter holding during the said quarters, it was only because of some clubbing discrepancies revision in the shareholding pattern was necessary and accordingly revised shareholding pattern for the said quarters were revised.

Source : Equity Bulls

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