Kamanwala Industries EGM to consider issue of shares and warrants

Kamanwala Industries Ltd has announced that an Extra-Ordinary General Meeting (EGM) of the members of the Company will be held on December 15, 2006, inter alia, to transact the following:

1. To offer, issue and allot in one or more wenches, at its sole discretion 15,84,000 Equity Shares of Rs 10/- each for cash at a price of Rs 98/- per Share (face value Rs 10/- and a premium of Rs 88/- per Share) for cash on a preferential basis, which price is calculated in accordance with the guidelines for Preferential Issues issued by SEBI under the Securities & Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, with the relevant date being the date thirty days prior to the date of this Extraordinary General Meeting i.e. November 15, 2006, subject to necessary prov1isions & approvals.

2. To create, offer, issue and allot it one or more trenches at it sole discretion 19,95,000 Optionally Fully Convertible Warrants (OFCWs) of Rs 98/- with currency net exceeding 18 months from the date of issue and/or allotment of the OFCWs, each OFCWs entitling the holder thereof to exercise its option to apply for and be issued and allotted one fully paid Equity Shares of the face value of Rs 10/- each in the Company at any time upto a period not exceeding 18 months from the date of allotment of the OFCWs, subject to necessary provisions & approvals.

Source : Equity Bulls

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