JIK Industries allots shares

JIK Industries Ltd has announced that the Board of Directors of the Company at its meeting held on October 16, 2008, inter alia, has considered and approved the allotment of shares.

The Board allotted 30,44,370 Equity Shares of Rs 10/- each to Shareholders under Reduction in Capital pursuant to the Scheme of Revival sanctioned by Hon'ble BIFR vide its Order dated August 26, 2008 issued on September 01, 2008 in the ratio 10:1 (i.e. For every Ten Equity Shares of Rs 10/- each One Equity Share of Rs 10/- each).

The Issue of 51,02,010 Equity Shares of Rs 10/- each (41,69,810 Equity Shares against the Share Application Money pending allotment and 9,32,200 Equity shares against further infusion of funds) at par to Promoter as per Hon'ble BIFR Order dated August 26, 2008 issued on September 01, 2008.

Source : Equity Bulls

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