JMC Projects allots 53,655 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 March 10, 2007 has allotted 53,655 Equity Shares pursuant to Warrant Conversion Applications received during the month of February, 2007. The said detachable warrants were issued and allotted on September 09, 2005 along with equity shares on right basis pursuant to Letter of Offer dated June 20, 2005.

The details of allotment of equity shares made:

No. of valid Applications received for conversion during February 2007 - 48

Applicable Conversion Price per equity share for February 2007 - Rs - 182/-

No. of Warrants received for conversion during February 2007 - 1,07,310

No. of equity shares allotted for the month of February 2007 - 53,655

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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