KJMC Financial Services to consider allotment of 144200 shares on Mar 21, 2009

KJMC Financial Services Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 21, 2009, inter alia, to consider the allotment of 1,44,200 Equity Shares upon exercise of right of conversion of 1st Tranche of Fully Convertible Warrants allotted on December 22, 2007 on Preferential basis to I C Jain, HUF at price determined in accordance with SEBI (Disclosure and Investor Protection) Guidelines 2000 to be converted into equal number of fully paid up Equity Shares of Rs 10/- each of the Company.

To consider the sale of up to 50% Equity Shares of any one or more of its 100% subsidiary Companies viz, (i) KJMC Asset Management Co Ltd (ii) KJMC Investment Trust Company Ltd (iii) KJMC Capital Market Services Ltd (iv) KJMC Credit Marketing Ltd (v) KJMC Commodities Market India Ltd, to KJMC Global Market (India) Ltd having the similar / identical shareholding pattern at a price certified by the valuer, subject to necessary statutory / regulatory approvals, wherever required.

The stock was trading at Rs.20.45, down by Rs.1.05 or 4.88%. The stock hit an intraday high of Rs.20.45 and low of Rs.20.45.

The total traded quantity was 50 compared to 2 week average of 75.

Source : Equity Bulls

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