JRG Securities to issue shares on preferential basis at Rs.48

JRG Securities Ltd has announced that the Board of Directors of the Company at its meeting held on July 27, 2007, inter alia, has approved the following:

1. The IPO Fund Utilization for the quarter ended June 30, 2007.

2. The Board of Directors in the said meeting subject to the approval of members and appropriate authorities decided to issue and allot on preferential allotment basis upto:

a. 1,03,82,174 Equity shares and 1,33,33,333 warrants to the investor, Duckworth Ltd, a Company incorporated under the laws of Mauritius.

b. 16,57,237 warrant to the promoters of the Companies.

at a price of Rs 48/- per share which is as per the SEBI pricing formula.

The Company will hold an Extra Ordinary General Meeting on August 24, 2007 for seeking approval for the said preferential allotment.

Further the Company has informed that, Mr. Mathew Jacob, Director, has resigned from the Board of the Company, subject to regulatory approvals.

Source : Equity Bulls

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