JIK Industries Ltd has announced that the Board of Directors of the Company at its meeting held on July 02, 2007, has decided to allot as under:
1. 20,00,000 Equity Shares of Rs 10/- each @ premium of Rs 3.80 per share to Stressed Assets Stabilization Fund.
2. 14,85,507 Equity Shares of Rs 10/- each @ premium of Rs 3.80 per share to Life Insurance Corporation of India.
3. 4,65,000 Equity Shares of Rs 10/- each @ premium of Rs 3.80 per share to 5 investors on private placement basis.
4. 32,27,623 number of fully Convertible Bonds of Face Value of Rs 69/- per Bond, on private placement basis to two investors to be compulsorily converted into 5 equity shares, in one or more trenches, at any time within the period of 18 months from the date of allotment.