SAPL

South Asian Petrochem Limited has informed the Exchange that: "The Company had entered into a License Agreement with M/s Asahi Kasei Chemicals Corporation, Japan (AKC) to construct a plant with a proposed capacity of 1,30,000 TPA to manufacture Polycarbornate using AKC's environmentally friendly technology. This is inform you that in view of the fact that the license agreement with AKC had expired and considering the global recession the said project has been dropped".

South Asian Petrochem Limited has informed the Exchange that "The Company has made an application for conversion from a 100% EOU to DTA unit to the Development Commissioner (DC), Falta Special Economic Zone in terms of de-bonding guidelines. Further the Company is not availing EOU benefits w.e.f. 16th October, 2009".

South Asian Petrochem Limited has informed the Exchange that on the basis of approval of the shareholders at the Extra Ordinary General Meeting held on December 08, 2007, the Company had issued 1,40,64,273 convertible warrants on preferential basis to IFC/ Promoter group on December 20, 2007. The allotees had the option to convert the warrants into equity shares within eighteen months from the date of allotment. The period for exercising the option for the conversion of the said convertible warrants to equity shares expired on June 19, 2009. None of the allotees have exercised the option for c

South Asian Petrochem Limited has informed the Exchange that the Board of Directors at its meeting held on May 12, 2008 inter alia, have approved the Profit & Loss Account for the year ended March 31, 2008 and the Balance Sheet as at that date. The copy of summarised working results shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/SAPL_updates_14052008.zip target=NEW> For more details click here.</a>