K Sera Sera Productions to issue warrants to Times Group

K Sera Sera Productions Ltd has announced that the Board of Directors of the Company at its meeting held on September 26, 2009, inter alia, has approved the issue of Fully Convertible Warrants on Preferential Basis to the Times Group- Bennett Coleman & Co. Ltd.

The Board also approved issue of Optionally Convertible Redeemable Bonds on Preferential Basis to M/s. Global Trade Finance Ltd. towards settlement of their dues in full.

Further, the Company has informed that approval of members of the Company shall be obtained by way of Postal ballot process pursuant to Section 192A of the Companies Act, 1956 read with Companies (Passing of Resolution by Postal Ballot) Rules 2001.

In this connection, the Board will approve the Notice of Postal ballot in the next week and once approved :-

a) Then the said notice will be sent to all the Exchanges where the shares are listed.
b) It will also be sent to all the shareholders of the Company.
c) It will also arrange to give the details of the Company officials to whom the authority to manage the entire process of postal ballot is given.
d) And shall also arrange to inform the name of the scrutinizer and his correspondence address for doing the needful.

The stock was trading at Rs.17.40, up by Rs.0.39 or 2.29%. The stock hit an intraday high of Rs.17.86 and low of Rs.16.85.

The total traded quantity was 306024 compared to 2 week average of 419405.

Source : Equity Bulls

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