KJMC Global Market approves conversion of 144200 warrants

KJMC Global Market India Ltd has announced that the Board of Directors of the Company at its meeting held on March 30, 2009, inter alia, has discussed and approved the allotment of l,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 of Rs 16.15 per share as 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.

The Board approved the purchase of 50% Equity Shares of subsidiary Companies of KJMC Financial Services Ltd viz. (1) KJMC Asset Management Company Ltd, (2) KJMC Investment Trust Company Ltd, (3) KJMC Capital Market Services Ltd, (4) KJMC Credit Marketing Ltd and (5) KJMC Commodities Market India Ltd, at a price certified by the valuer, Subject to necessary statutory / regulatory approvals, and other necessary approvals, wherever required.

The Board approved the sale of 50% Equity Share holding in its 100% Subsidiary Company viz, KJMC Shares and Securities Ltd subject to necessary statutory / regulatory approvals, and other necessary approvals, wherever required.

The stock closed the day at Rs.8.46, down by Rs.0.44 or 4.94%. The stock hit an intraday high of Rs.8.46 and low of Rs.8.46.

The total traded quantity was 50 compared to 2 week average of 70.

Source : Equity Bulls

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