With reference to the earlier announcement dated July 19, 2013 regarding intimation of issue price for the proposed preferential allotment, Kalindee Rail Nirman (Engineers) Ltd has now informed BSE that the preferential issue price as the intimation made on July 19, 2013 has a typographical error. The revised announcement should be read as follows:
"Kalindee Rail Nirman (Engineers) Ltd has informed BSE that the Board of Directors of the Company, in its meeting held on July 13, 2013 had approved the issuance of 41,10,400 equity shares of the Company of a face value of Rs. 10 each representing approximately 24.90% of the post issue issued, subscribed and paid up equity share capital of the Company to Texmaco Rail & Engineering Limited ("Texmaco"), on a preferential allotment basis at a price which shall be Rs. 65 per equity share or such higher price determined in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (“ICDR Regulations”). Subsequently, the notice and explanatory statement dated July 13, 2013 was dispatched to the shareholders of the Company requesting them to vote by postal ballot on the special resolution in relation to the aforementioned preferential allotment to Texmaco.
In terms of Chapter VII of the ICDR Regulations, the ‘Relevant Date’ for the purpose of calculating the ‘Floor Price’ for the aforementioned preferential allotment was July 18, 2013 (being 30 days prior to the declaration of results of the postal ballot i.e. August 17, 2013 which is deemed to be the date of the general meeting of the shareholders for the purposes of calculating the ‘Relevant Date’).
Further the Company has informed that, the ‘Floor Price’ for the purposes of the preferential allotment to Texmaco, computed in accordance with the provisions of the ICDR Regulations, has been determined to be Rs. 65.13.
Accordingly, the issue price of 41,10,400 equity shares to be allotted on preferential basis to Texmaco has been fixed at Rs. 65.13 per equity share, subject to the special resolution being passed by the shareholders of the Company through postal ballot."
"Kalindee Rail Nirman (Engineers) Ltd has informed BSE that the Board of Directors of the Company, in its meeting held on July 13, 2013 had approved the issuance of 41,10,400 equity shares of the Company of a face value of Rs. 10 each representing approximately 24.90% of the post issue issued, subscribed and paid up equity share capital of the Company to Texmaco Rail & Engineering Limited ("Texmaco"), on a preferential allotment basis at a price which shall be Rs. 65 per equity share or such higher price determined in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (“ICDR Regulations”). Subsequently, the notice and explanatory statement dated July 13, 2013 was dispatched to the shareholders of the Company requesting them to vote by postal ballot on the special resolution in relation to the aforementioned preferential allotment to Texmaco.
In terms of Chapter VII of the ICDR Regulations, the ‘Relevant Date’ for the purpose of calculating the ‘Floor Price’ for the aforementioned preferential allotment was July 18, 2013 (being 30 days prior to the declaration of results of the postal ballot i.e. August 17, 2013 which is deemed to be the date of the general meeting of the shareholders for the purposes of calculating the ‘Relevant Date’).
Further the Company has informed that, the ‘Floor Price’ for the purposes of the preferential allotment to Texmaco, computed in accordance with the provisions of the ICDR Regulations, has been determined to be Rs. 65.13.
Accordingly, the issue price of 41,10,400 equity shares to be allotted on preferential basis to Texmaco has been fixed at Rs. 65.13 per equity share, subject to the special resolution being passed by the shareholders of the Company through postal ballot."
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