PUNJAB CHEMICALS AND CROP PROTECTION LTD. - Updates

With reference to the earlier announcement dated October 10, 2016, about the capitalization of overdue export proceeds of Euro 34,76,978 and USD 87,500 valuing Rs. 25,94,19,394/- of SD Agchem (Europe) N.V, Belgium, a wholly owned subsidiary of the Company, (hereinafter "SD Agchem'') into investment in SD Agchem in accordance with the approval received from Reserve Bank of India dated March 31, 2016, as the said amount was utilized by the said subsidiary for acquiring stake in step down subsidiary viz. Sintesis Quimica SAIC, Argentina.<BR><BR>In view of the above, Punjab Chemicals & Crop Protection Ltd has now informed BSE that SD Agchem has allotted 5,789 shares of Euro 615 each to the Company for contribution in kind.