JMC Projects Allots 1,05,725 equity shares on conversion of warrants

JMC Projects India Ltd has announced that the Management Committee of Directors duly authorized by the Board of Directors of the Company at its meeting held on December 10, 2006 has allotted 1,05,725 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 shares made:

No. of valid applications received for conversion during November 2006 - 161

Applicable Conversion Price for November 2006 per equity share Rs - 119/-

No. of Warrants received for conversion - 2,11,450

No. of equity shares allotted - 1,05,725

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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