ACC Enters Into Share Subscription Agreement With Shiva Cement

ACC Ltd has informed that on April 20, 2007 the Company has entered into a Share Subscription Agreement with Shiva Cement Ltd (SCL), Rourkela, Orissa by which the Company would be inducted as a shareholder of this Company. This Agreement inter alia includes the following:i. subscribing to Preferential Allotment of 1,45,00,000 Equity Shares of Shiva Cement Ltd with a face value of Rs 2/- and a premium of Rs 9/- per Equity Share in all, aggregating to Rs 15.95 crore;ii. subscribing to Preferential Allotment of 2,27,00,000 warrants of Shiva Cement Ltd which has an option to convert into corresponding number of Equity Shares at a face value of Rs 2/- and a premium of Rs 9/- per Equity Share within 18 months from the date of allotment.The allotment would be subject to compliance with