Kemrock Industries and Exports Ltd: Outcome of the meeting of ;Allotment Committee' of Board of Directors

Kemrock Industries and Exports Ltd has informed BSE that the Allotment Committee of the Board of Directors of the Company ('Committee') at its meeting held on May 18, 2011, approved the conversion of 6,69,732 warrants into equal number of equity shares of Rs. 10/- each upon exercise of option by M/s. RPM International Inc., USA, to convert their remaining 6,69,732 warrants into equity shares.

Accordingly, the Committee has allotted 6,69,732 equity shares to M/s. RPM International Inc., USA, on preferential basis, upon receipt of balance consideration of 75% (Rs. 18,08,27,640/-) payable on such conversion.

The above equity shares allotted to M/s. RPM International Inc., USA, are in accordance with the special resolution passed at the Annual General Meeting of the Company held on August 28, 2009 and as per the terms and conditions of Warrants issued to them at the Board Meeting held on December 23, 2009, and pursuant to applicable SEBI (ICDR) Regulations, 2009 for preferential allotment.

Consequent upon allotment of equity shares, as aforesaid, the paid-up share capital of the Company stands increased to Rs. 17,44,21,9801- divided into 1,74,42,198 equity shares of Rs. 10/- each.