Kannur International Promotion Society (KIAPS) is formed for promoting the Kannur Airport Project by capital subscription. The shares of Kannur Airport were allotted to KIAPS and they will sell the same to interested parties at face value itself. If you are interested in purchasing the shares, please see website www.kaips.in for forms and details of the procedures to be followed for purchase of shares.
Face value of shares is Rs 100/-
Minimum subscription 500 shares.
Some share holders had raised questions regarding issue of shares to MA Yusuff Ali in AGM at TVM. What they thought that Lulu is going to control entire Kial and KIAL is not issuing any shares to Public. The problem is some share holders dont know the basics of what is shares/public ltd companies/how it controlled etc.Still some share holders think that it is like local business partnership,those who invest more can decide /control the company. Some needs jobs/shops in kial etc for investing mere Rs 50,000/-at free of cost .Moreover they want directorship in Kial by investing Rs 50,000/-What is the controversy now?
Existing small share holders is 9.5%,and MA Yussuf Ali is 4.56%. New allotment of shares will increase the small share holders % from 9.5% to 9.6% and MA Yusyuff Ali from 4.56% to 7.68%. And how much share does they own any way? I think less than 10%?