JK Industries EGM approves issue of shares to Fenner India

JK Industries Ltd has announced that the members at the Extra-ordinary General Meeting (EGM) of the Company held on August 14, 2006, have accorded authority to board to create, issue, offer and allot further capital from unissued capital of the Company, by way of preferential allotment, to Fenner (India) Ltd, a constituent of the group upto 36,00,000 Equity Shares of Rs 10/- each of the Company for cash at a price of Rs 105/- per Equity Share i.e. at a premium of Rs 95/- per share determined with respect to the relevant date i.e. July 15, 2006, subject to the necessary provisions & approvals.

Source : Equity Bulls

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