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K S Oils Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 18, 2009, inter alia, has considered & approved the following matter subject to approval of shareholders at the ensuing Extraordinary General Meeting of the Company or any other authority, if any:
- To issue, offer and allot 8,672,566 warrants each to CVCGP II Client Rosehill Ltd, Mauritius and Baring Private Equity Asia III Mauritius Holding (3) Ltd, each such warrant convertible into one equity shares of Rs 1/- at a premium of Rs 55.50 each of the Company, aggregating to an amount not exceeding Rs 98 crores, pursuant to provisions of Section 81 (1A) and other applicable provisions if any of the Companies Act, 1956, SEBI (DIP) Guidelines 2000, and subject to all necessary approvals, consents, permissions and / or sanctions as may be necessary.
- To issue, offer and allot 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, aggregating to an amount not exceeding Rs 157 crores, pursuant to provisions of Section 81 (1A) and other applicable provisions if any of the Companies Act, 1956, SEBI
(DIP) Guidelines 2000, and subject to all necessary approvals, consents, permissions and / or sanctions as may be necessary.
- To issue, offer and allot 27,921,406 Equity Shares of Rs 1/- each at a premium of
Rs 47.35 each of the Company, aggregating to an amount not exceeding Rs 135 crores 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, and subject to all necessary approvals, consents, permissions and / or sanctions as may be necessary.
- To create, offer, issue and allot in one or more tranches, in the course of domestic / international offerings to domestic / foreign investors / institutional investors / foreign institutional investors, members, employees, Non-Resident Indians, Companies or bodies corporate, trusts, mutual funds (whether incorporated in India or abroad), banks, financial institutions, insurance Companies, pension funds, individuals or otherwise, whether shareholders of the Company or not, through a public issue, rights issue, preferential issue and / or private placement, and / or equity shares and / or equity shares through Global Depository Receipts ("GDRs") and / or American Depository Receipts ("ADRs") or any securities convertible into equity shares in the international markets upto US$ 15 Million (equivalent to Rs 75 crores approximately) or equivalent thereof, subject to necessary permissions, sanctions, approvals and applicable provisions of law. The issue price will be determined as per the SEBI guidelines. The GDR issue is proposed to be opened on or around July 13, 2009.
- To convene the Extraordinary General Meeting (EGM) of the Company on June 17, 2009 for obtaining shareholders approval on the aforesaid matters.
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