KPL International Ltd has fixed February 15, 2003 as the record date for the purpose of Scheme of arrangement between the Company and equity shareholders of the Company.
As per the Scheme the equity shares held by the shareholders other than shareholders belonging to the Promoter Group, in physical or demat form, will be automatically converted into one 12.5% Unsecured Redeemable Cumulative Non-Convertible Debenture of Rs.13/- each for every one equity share cancelled, unless the company receives a written information from such shareholders on or before the Record Date desiring to continue holding equity shares.
The aforesaid debentures shall be redeemed at the end of 30 months from the Record Date by paying principal amount of debenture and annually cumulative interest.
Further Vardhan Ltd., a major shareholder in the promoter group shall provide a buy back facility of debentures at par (Principal amount and accumulated interest thereon till the date of payment) to original debenture holders immediately after issue and allotment of Debentures till the redemption date of debentures.
There will be no dealings in the aforesaid scrip with effect from February 06, 2003.
BSE Code: 524119
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