Kamanwala Industries to issue warrants

Kamanwala Industries Ltd has announced that the Board of Directors of the Company at its meeting held on November 21, 2006 has decided to the following:

1. issue 15,84,000 Equity Shares of Rs 10/- each for cash at a premium of Rs 88/- per Share and 19,95,000 Optionally Fully Convertible Warrants (OFCWs) each Warrant having a Face Value of Rs 98/- on preferential basis as under:

- 15,45,000 Equity Shares to Investors.

- 39,000 Equity Shares to Independent Directors and their relatives.

- 20,000 OFCWs to Independent Directors and their relatives.

- 7,25,000 OFCWs to Investors.

- 12,50,000 OFCWs to Promoters and their relatives.

2. Holding an Extra-Ordinary General Meeting of the members of the Company on December 15, 2006 for passing necessary resolution for the aforesaid Purpose.

Source : Equity Bulls

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