KS Oils approves allotment of 28807339 warrants

KS Oils Ltd has announced that the Board of Directors of the Company at its meeting held on July 01, 2009, inter alia, has considered and approved the allotment of 28,807,339 warrants to the Promoters, each such warrant convertible into one equity shares of Rs 1/- each at a premium of Rs 53.50 each of the company, pursuant to provisions of Section 81 (1A) and other applicable provisions if any of the Companies Act, 1956, SEBI (DIP) Guidelines 2000.

The Board approved allotment of 27,921,406 Equity Shares of Rs 1/- each at a premium of Rs 47.43 each of the Company, to NSR Direct PE Mauritius, LLC pursuant to provisions of Section 81 (1A) and other applicable provisions if any of the Companies Act, 1956, SEBI (DIP) Guidelines 2000.

The Board also approved appointment of Mr. Vivek Sett as Additional Director of the Company under the provision of Section 260 of the Companies Act, 1956.

The stock was trading at Rs.59.15, up by Rs.0.35 or 0.60%. The stock hit an intraday high of Rs.59.60 and low of Rs.57.35.

The total traded quantity was 1306991 compared to 2 week average of 1852714.

Source : Equity Bulls

Keywords