Hindalco Board Approves
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Hindalco Board Approves Issue of Preferential Shares/Warrants

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Hindalco Board Approves Issue of Preferential Shares/Warrants

Mumbai, Maharashtra, India

Pursuant to the provisions of Section 81 (1A) and all other applicable provisions of the Companies Act, 1956 (including any statutory modification(s) or re-enactment thereof, for the time being in force) and pursuant to the provisions of Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 (SEBI [DIP] Guidelines), the Board of Directors of Hindalco has approved in their Meeting held on 2nd of March 2007, the issue of Preferential Shares/Warrants to the Promoters/Promoter Group, subject to shareholders approval, as given :

-- Issue upto 67,500,000 Equity Shares of Re.1/- each amounting to not to exceed Rs.12,000 million.

-- Issue of 80,000,000 Warrants, entitling the holder of warrant to apply for and obtain allotment of one Equity share against one warrant amounting to not to exceed Rs.14,000 million.

The Board has also approved the calling of an Extra Ordinary General Meeting for the approval of the Preferential allotment on Wednesday, the 28th of March, 2007.

The relevant date for the purpose of determining the price for the Preferential Issue of the Equity Shares and Warrants would be 30 days prior to the date of the Extra Ordinary General Meeting to be held on 28th March 2007 under Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 (SEBI [DIP] Guidelines).

Dr. Pragnya Ram, Aditya Birla Group, + 91 (022) 6652 5000 pragnyaram@adityabirla.com

Source: Hindalco Industries Limited (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

India News / Press Releases on March 3, 2007

Hindalco Board Approves Issue of Preferential Shares/Warrants
Business Wire India

Also see International News / Press Releases on March 3, 2007

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