Jhantla Investments EGM approves preferential issue

Jhantla Investments Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 04, 2006, inter alia, have accorded to the following:

1. Authority to the Board to offer, issue and allot in one or more lot(s) (not exceeding 5% of the paid up capital of the Company in a single financial year to promoter/s), on private placement and / or preferential basis, not exceeding 3,00,000 equity shares of the face value of Rs 10/- each at Rs 10/- each, being a price which is higher than the minimum price specified as per SEBI (Disclosure & Investor Protection) Guidelines 2000, and on such other terms and conditions as the Board may deem fit at its sole discretion.

2. A sum of Rs 20,00,000 out of the General Reserve, be capitalized and registered in the books of the Company at the close of the business on that date to be specified by the Directors in proportion of Rs 10/- for every Rs 10/- nominal amount of Equity Capital then and the same be applied in paying up in full 2,00,000 equity shares of Rs 10/- each in the capital of the company as Bonus Shares, and that such additional equity shares to be allotted and distributed, credited as fully paid amongst such holders in the proportion of 1 new shares for every 1 existing issued equity share then held; and that such new shares, as and when issued and fully paid, shall rank pari passu with the existing issued equity shares.

Source : Equity Bulls

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