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| Exchange Disseminated Time 05/08/2016 19:08:27 | | Kinetic Engineering Ltd has informed BSE that the Share Allotment Committee of the Board of Directors of the Company at its meeting held on August 05, 2016 has issued and allotted 501896 Optionally Convertible Cumulative Preference Shares (OCCPS) of face value of Rs. 22/- (Rupees Twenty Two Only) each at a premium of Rs. 67.66/- (Rupees Sixty Seven and Sixty Six Paise Only) each to the persons mentioned below belonging to the Promoter Group. The said shares are optionally convertible within a period of 18 months from the date of allotment at a price of Rs. 89.66 per share, entitling them for the subscription of equivalent number of equity shares of Rs. 10/- each (including premium of Rs. 79.66/- per share) as per the provisions of Chapter VII of SEBI (ICDR) Regulations. Rate of Dividend applicable is 8.50%. |
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