Restile Ceramics allots equity shares to promoters pursuant to BIFR order

Restile Ceramics Ltd has announced that the Board of Directors of the Company at its meeting held on January 30, 2007, inter alia, has approved the following:

1. Pursuant to the BIFR order dated August 28, 2006 and subsequent to the Share holders’ approval at their Annual General Meeting held on September 28, 2006, the Board of Directors of the Company has allotted the equity shares on preferential basis to the promoter’s (Shri. Nalinkant Rathod) associate Companies as detailed here under at par at Rs 10/- each.

Name of the Allottee:

a. Solomed Pte Ltd, Singapore - 1,26,00,400 No of equity shares

b. Asia Pacific Investment Holdings Ltd, Singapore - 11,14,000 No of equity shares

2. Pursuant to the BIFR order dated August 28, 2006 and subsequent to the Share holders’ approval at their Annual General Meeting held on September 28, 2006, the Board of Directors of the Company has also allotted Fully Convertible Debentures (FCDs) with zero coupon interest on preferential basis to the non-promoters and Select Investors at par at Rs 100/- each as detailed hereunder:

Name of Allottee

a. Capital Carriers Ltd, Singapore - 2,32,020 No of FCDs

b. Sri. Jaya Incorporated - 1,10,275 No of FCDs

c. Mr. Hariharan Sundaresan, Singapore - 44,106 No of FCDs.

Source : Equity Bulls

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