JMC Projects Updates on warrants issue

JMC Projects India Ltd has announced that the Warrant Conversion Period is getting expired on March 08, 2007.

Further the Company has informed that, to facilitate the warrant holders to give an option for conversion of said detachable warrants into equity shares as per the terms of Letter of Offer dated June 20, 2005, the Company and Company's Registrar M/s. Pinnacle Shares Registry Pvt. Ltd. will accept the application for conversion of detachable warrants upto business hours on March 12, 2007 at an applicable conversion price for Rs 205/- per share.

The Company will not accept any application after business hours on March 12, 2007 after which the unconverted warrants will get lapsed and holder of such unconverted warrants will not be able to do anything thereafter.

The Company will freeze the demat escrow account no. IN300343 - 10729547 with M/s. Shah Investors Home Ltd., Ahmedabad for receiving credit of the warrants after the business hours on March 12, 2007. Hence, the Company will not accept any warrants on or after March 13, 2007.

Source : Equity Bulls

Keywords