Jai Mata Glass to consider allotment of shares and redemption of COCRPS

Jai Mata Glass Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 24, 2007, inter alia, to consider the following:

1. For allotting 3500000 equity shares of Re 1/- each to existing promoters on preferential basis for redemption of 350000 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.

2. For redemption of 350000 Cumulative Optionally Convertible Redeemable Preference Shares (COCRPS) of Rs 100/- each 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.

Source : Equity Bulls

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