JMC Projects allots Equity Shares on conversion of warrants

JMC Projects India Ltd has announced that at the meeting of Management Committee of Directors duly authorized by the Board of Directors held on November 09, 2006 the Company has allotted 2,86,507 equity shares pursuant to applications received for Conversion of Detachable Warrants, which were allotted on September 09, 2005 pursuant to the last Rights Issue of the Company vide Letter of Offer dated June 20, 2005.

The details of allotment of equity share made are as under:

1. No. of valid applications received for conversion during September 2006 - 266

2. Applicable Conversion Price for September 2006 per equity share Rs - Rs 106/-

3. No. of Warrants received for conversion - 5,73,014

4. No. of equity shares allotted - 2,86,507

Further the Company has informed that, as per the terms of the issue, 2 warrants get converted into 1 equity share and accordingly, allotment has been made.

Source : Equity Bulls

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