KS Oils EGM approves issue of 32,91,656 shares

KS Oils Ltd has announced that the members at the Extra-Ordinary General Meeting (EGM) of the Company held on December 12, 2006, inter alia, have approved the following:

1. Issue of 32,91,656 Equity Shares of Rs 10/- each at a premium of Rs 170/- per share aggregating Rs 59,24,98,080 to:

1.1. Citigroup Venture Capital International Growth Partnership Mauritius Ltd 32,73,366 Equity Shares; and

1.2. Gautam Nayak and Keshav Bhujale 18,290 Equity Shares (in their capacity as trustees of the following trusts):

1.2.1 Growth Partnership Ajay Relan Co-investment Trust;

1.2.2. Growth Partnership P R Srinivasan Co-Investment Trust;

1.2.3. Growth Partnership Vinayak Shenvi Co-Investment Trust;

1.2.4. Growth Partnership J K Basu Co-Investment Trust; and

1.2.5 Growth Partnership Vivek Chhachhi Co-Investment Trust

("Investors’) pursuant to SEBI Guidelines for preferential issues.

2. Issue of up to 17,08,344 Investor Warrants at an exercise price of Rs 180/- per warrant (out of which Rs 18/- per warrant would be payable at the time of allotment of warrant and balance of Rs 162/- per warrant would be payable at the time of exercise of conversion option) convertible into equivalent number of equity shares of Rs 10/- each at a premium of Rs 170/- per share aggregating Rs 30,75,01,920/- to:

i. Citigroup Venture Capital International Growth Partnership Mauritius Ltd: 16,98,853 Investor Warrants; and

2. Gautam Nayak and Keshav Bhujle: 9,491 Investor Warrants (in their capacity as trustees of the following trusts):

2.1 Growth Partnership Ajay Relan Co-Investment Trust;

2.2 Growth Partnership P R Srinivasan Co-Investment Trust;

2.3 Growth Partnership Vinayak Shenvi Co-Investment Trust;

2.4 Growth Partnership J K Basu Co-Investment Trust; and

2.5 Growth Partnership Vivek Chhachhi Co-Investment Trust

("Investors’) pursuant to SEBI Guidelines for preferential issues.

3. Issue of upto 23,00,000 Promoter Warrants at an exercise price of Rs 180/- per warrant (out of which Rs 90/- per warrant would be payable at the time of allotment of warrant and balance of Rs 90/ per warrant would be payable at the time of exercise of conversion option) convertible into equivalent number of equity shares of Rs 10/- each at a premium of Rs 170/- per share aggregating Rs 41,40,00,000/- to the Promoters pursuant to SEBI Guidelines for preferential issues.

Source : Equity Bulls

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