Jaykay Enterprises Ltd board approves preferential issue to promoter group

The Board of Directors of Jaykay Enterprises Ltd at their meeting held today i.e., Monday, January 04,202I, at 4.15 PM and concluded at 5.15 PM, has considered and approved the preferential issue of upto 63,70,000 (Sixty Three Lakhs and Seventy Thousand Only) Equity Shares and upto 90,19,000 (Ninety Lakhs and Nineteen Thousand Only) Fully Convertible Warrants ("Warrants") at an Issue Price of Rs. l0/- per share/warrant for an aggregate amount of Rs. 10/- per share to the persons belonging to promoter category,

- Shri Abhishek Singhania - 30,00,000 shares and 41,00,000 warrants
M/s. J.K. Traders Limited - 33,70,000 shares and 49,19,000 warrants.

The board also appointed Shri Abhishek Singhania (DIN-00087844) as an Additional Director (Non-Executive, Non-Independent) in the Board of the Company to hold office until conclusion of the next Annual General Meeting of the Company as recommended by the Nomination & Remuneration Committee in its meeting held today.

Shri Abhishek Singhania belongs to promoter and promoter group of the Company and not debarred from holding the Office of Director by virtue of any order passed by SEBI or any other such authority. Mr. Abhishek Singhania is co-founder and Director of JK Technosoft Ltd. and a Singhania scion. He is serving as Special Executive in J.K. Cement Ltd. looking after Corporate Affairs at H.O. level.

Shares of JAYKAY ENTERPRISES LTD. was last trading in BSE at Rs.10.69 as compared to the previous close of Rs. 10.49. The total number of shares traded during the day was 93518 in over 37 trades.

The stock hit an intraday high of Rs. 10.69 and intraday low of 10.69. The net turnover during the day was Rs. 999707.

Source : Equity Bulls

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