Jain Studios Board to consider stock split

Jain Studios Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 30, 2007, inter alia, to consider the following business activities:

1. To take note of the Forfeiture of Share warrants application money.

2. To discuss & finalize the Capital restructuring of the Company, which inter-alia includes:

a. To increase the Authorized Equity Share Capital from Rs 20.50 crores to Rs 50 crores.

b. To split-up the Equity Shares of the Company.

3. To consider the "Debt Swap with Equity Agreement" executed with M/s. Ankur Services and Growth Fund Ltd. (ASGFL), Promoter Company, to ensure the repayment of IDBI / SASF debt in full & final settlement

4. To issue Equity shares to ASGFL (Promoter Company) on preferential basis pursuant to "Debt Swap with Equity Agreement" executed with ASGFL

5. To decide the date, time and venue of the Extra Ordinary General Meeting of shareholders of the Company to be convened for Issue of shares on preferential basis.

6. To consider the further issue of Equity Shares on a right basis to Existing Shareholders.

The stock was trading at Rs.17.98, up by Rs.1.63 or 9.97%. The stock hit an intraday high of Rs.17.98 and low of Rs.17.05. The total traded quantity was 45707 compared to 2 week average of 6168.

Source : Equity Bulls

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