BS Refrigerators Ltd.

YEAR                       EVENTS
 1987 - The Company was Incorporated in Karnataka on 17th December
 under
        the name and style of Samson Components Pvt. Ltd..  It became
        a deemed public company with effect from 4th October, 1988. 
 The
        name was changed to Samson Tools and Components, Ltd. on 10th
        November 1988.  It was further changed to BPL Electronics
 Ltd.
        on 10th August 1989.  The Company was converted into a public
 
        Ltd. Company on 14th August, 1989.  It was Promoted by
 British
        Physical Laboratories India, Ltd.
 
      - The Company's main object is to manufacture injection moulded
        plastic components for electronic industry and plastic
 industry
        tools.
 
      - The Company undertook to implement a project for the
 manufacture 
        of 1,000 TPA of injection moulded plastic components for 
        electronic industry and manufacture of Rs.600 lakh worth
 plastic
        moulding tools on single shift basis.  
 
      - The Company entered into a technical assistance agreement with
 
        Samson Industries Co., Ltd. Taiwan.  Land was allotted by 
        Karnataka Industrial Area Development Board at Whitefield,
        Bangalore.  
 
 1989 - 4,15,030 shares at par subscribed for by the signatories to
 the
        Memorandum and Articles of Association and promoters.  In
 October
        1989, 45,84,970 No. of equity shares issued at par of which
 the
        following were allotted on a firm basis:
 
      - (i) 15,84,970 No. of equity shares to promoters, Indian
 resident
        directors and their friends and
 
      - (ii) 9,00,000 shares to SBI Mutual Fund, ICICI and UTI.  Out
 of
        the balance, 2,50,000 shares were reserved for allotment to
 the
        employees (all were taken up) and remaining 18,50,000 shares
 were
        issued to public.  Additional 7,50,000 shares were allotted
 to
        retain oversubscription (37,500 shares to employees, 2,77,500
        shares to public and 4,35,000 shares to promoters).
 
 1991 - Steps were being taken to implement a project for manufacture
 of
        refrigeration and air conditioners in collaboration with
 Sanyo
        Electric Co., Japan.
 
      - The Company undertook the project for the manufacture of `No 
        frost' refrigerators with technical assistance from Sanyo,
 Japan.
 
      - The Company also proposed to add other products like deep
 freezer
        bottle coolers, air conditioners in the second phase of this
        project.
 
 1993 - 3 models of refrigerators were launched and the overall
 working
        was reported to be satisfactory.  With the launching of 185
 litre
        model and 350 litre 3 door models, the Company would be
 entering
        the major segment of refrigerator market.
 
      - The Company issued 5,75,000 - zero interest fully convertible
 
        debentures of Rs.800 each on rights basis to equity
 shareholders 
        in the prop. of 1 debenture : 10 No. of equity shares held. 
 Only
        5,25,000 debentures taken up.  The remaining 50,000 debentues
 
        were allotted to UTI.
 
      - Simultaneously, the Company privately placed 2,87,500 - zero 
        interest fully convertible debentures of Rs.800 each as
 follows:
 
      - (i) 81,250 debentures to UTI;
 
      - (ii) 31,250 debentures to Offshore Mutual Funds;
 
      - (iii) 25,000 debentures to Second India Investment Funds;
 
      - (iv) 86,250 debentures to Indian Mutual Funds and
 
      - (v) 63,750 debentures to BPL Ltd.  All except 20,000
 debentures
        to Indian Mutual Funds were allotted.
 
      - Part `A' of Rs.300 of each debenture will be converted into
 10
        No. of equity shares of Rs.10 each at a prem. of Rs.20 per
 share
        on allotment of debentures.  Accordingly 84,25,000 shares
 were
        allotted.
 
      - Part `B' of Rs.500 of each debenture will be converted into
 10
        No. of equity shares of Rs.10 each at a prem. of Rs.40 per
 share
        on 1st April, 1994.
 
      - The Company issued 6,50,000 - 17% non-convertible debentures
 on
        private placement basis with UTI.
 
      - 84,25,000 shares allotted in part conversion of zero interest
 FCD
 
 1994 - The Company proposed to introduce 200 litre direct cooling
 model
        offering latest generation features.
 
      - Effective from 19th September, the name of the Company was 
        changed from BPL Electronics Ltd. to BPL Refrigeration Ltd.
 
      - 84,25,000 shares in conversion of Part B of FCD.  94,00,000
 No. 
        of equity shares allotted (prem. Rs.38.44) to the promoters
 on
        pref. basis.
 
 1995 - Also proposed to introduce two more models.
 
 2000 - BPL Refrigeration Ltd., to be renamed as BS Refrigerators Ltd.
 is working on the
              launch of a series of new models in line with customer
 expectations.
 
 2007
 
 -B S Refrigerators Limited has informed regarding the following
 change in the composition of the Board of the Company: Mr. R Sathyaji
 Raja has ceased to be a Director and Manager, by resignation, on 17th
 January 2007.