Jai Mata Glass to consider allotment of 3500000 shares on Mar 31, 2010

Jai Mata Glass Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 31, 2010, inter alia, to consider the allotment of 3500000 equity shares of Re. 1/- each to existing promoters on preferential basis for redemption of 35000 Cumulative Optionally Convertible Redeemable Preference shares (COCRPS) of Rs. 100/- issued to Industrial Development Bank of India Ltd. in accordance with the Order of Hon'ble Board for Industrial and Financial Reconstruction dated April 10, 2006.

The Board will also consider redemption of 35000 Cumulative Optionally Convertible Preference shares (COCRPS) of Rs. 100/- each issued Development Bank of India Ltd. in accordance with the Order of for Industrial and Financial Reconstruction dated April 10, 2006.

The stock closed the day at Rs.3.73, up by Rs.0.07 or 1.91%. The stock hit an intraday high of Rs.3.84 and low of Rs.3.65.

The total traded quantity was 707153 compared to 2 week average of 231587.

Source : Equity Bulls

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