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| Exchange Disseminated Time | Kesar Enterprises Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 13, 2014, inter alia, has approved issue of 30,65,000 Zero Coupon Optionally Convertible Preference Shares (OCPS) of Rs. 10/- each fully paid-up aggregating to Rs. 3,06,50,000/- with an option to convert into Equity Shares of the Company, either partly or fully, in one or more tranches, in one or more financial years, to the following Promoter Group Companies on Preferential basis subject to approval of the Shareholders of the Company at the ensuing Extraordinary General Meeting to be held on March 18, 2014:
The Relevant Date for the purpose of calculating the minimum price for conversion of OCPS into Equity Shares, under Chapter VII of the SEBI (ICDR) Regulations, 2009 will be February 14, 2014 being the date 30 days prior to the date of passing of the resolution at the Extra-Ordinary General Meeting scheduled to be held on March 18, 2014. |
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