Kajaria Ceramics - Outcome Of Board Meeting

Kajaria Ceramics Ltd has informed that the Board of Directors of the Company at its meeting held on August 25, 2007, has approved the following:

Pursuant to the provisions of section 81 (1A) and other applicable provisions of the Companies Act, 1956 (including any statutory modification or reenactment thereof, for the time being in force) and pursuant to the provisions of Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 (SEBI (DIP) Guideline), the Company shall issue Preferential Warrants to the Promoters / Promoters Group, subject to shareholders approval, as per the following details:-

Issue 1,27,000.00/ convertible warrants entitling the holder of warrant to apply for and obtain allotment of one equity share against one such warrant which is to be converted upto 57,000.00 warrants on or before March 31, 2008 and 70,000.00 warrants after March 31, 2008 but well before 18 months from the date of allotment as per the chapter XIII of the Securities and Exchange Beard of India (Disclosure and investors Protection) Guidelines 2000.

The relevant date for the purpose of determined the price for the preferential issue of the warrants as aforesaid would be 30 days prior to the date of Annual General Meeting to be held on September 26, 2007 under the chapter XIII of the Securities and Exchange Board of India (Disclosure and Investors Protection) Guidelines 2000.

Source : www.indian-commodity.com