Held on 30 June 2015
Kilburn Engineering announced that the Board of Directors has on 30 June 2015, has passed a Resolution deciding that the Company in its capacity as one of the promoters of McNally Bharat Engineering Company ('MBECL') will sign an Agreement to be entered into between MBECL and its existing Promoters of the one part and EMC, Constantia Office Complex, (South Block), 8th Floor. 11, Dr. U. N. Brahmachari Street, Kolkata - 700 017 ('EMCL') of the other part, by virtue of which EMCL will purchase / subscribe for one Crore Equity Shares of Rs, 10/- each at a price of Rs. 100/- per Share of MBECL. MBECL will offer the Shares by way of Private Placement subject to the approval of its Shareholders and compliance with other statutory and Regulatory provisions.According to the Agreement mentioned above EMCL and Williamson Magor & Co. ( one of the existing Promoters of MBECL) will, inter alia, comply with the SEBl (Acquisition of Shares and Takeover) Regulations, 2011, in the matter of Open Offer as may be applicable.
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