JCT allots 837509 equity shares on conversion of FCCBs

JCT Ltd has announced that the Company has received a Conversion Notice from its Principal, Paying, Conversions and Transfer Agent, for conversion of 25 FCCBS of USD 10000 aggregating to USD 250,000 into equity shares. In terms of the Offering Circular dated March 31, 2006, the Company, on December 20, 2007, has issued and allotted 8,37,509 equity shares of the face value of Rs 2.50 each for cash at a premium of Rs 10.82 per share consequent upon conversion of above referred FCCBs. By virtue of conversion of 25 FCCBs referred above, the number of FCCBs and amount outstanding stands at 2975 and USD 29.75 Million respectively.

The Company has further announced that upon conversion of FCCBS as mentioned above into equity shares, the paid-up equity share capital of the Company has increased from 34,36,69,044 equity shares of the face value of Rs 2.50 each to 34,45,06,553 equity shares of Rs 2.50 each.

Source : Equity Bulls

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