KESAR ENTERPRISES LTD. - Outcome of Board Meeting

Kesar Enterprises Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 04, 2015, inter alia, has transacted the following:<BR><BR>- Approved conversion of 1,69,092 Optionally Convertible Preference Shares (OCPS) amounting to Rs. 16,90,920/- into 80,520 Equity Shares of Rs. 10/- each at a price of Rs. 21/- per share (including premium of Rs. 11/-) as per details given here under:<BR><BR>- Name of Allottees - Seel Investment Pvt Ltd., Promoter Group<BR><BR>- No. of OCPS held - 1,69,100<BR><BR>- Option exercised to convert OCPS into Equity Share - 1,69,092<BR><BR>- No. of Equity Shares allotted on conversion of OCPS - 80,520