Jai Corp To Issue Equity Shares

The members of Jai Corp have approved to issue of 59,10,610 fully paid-up equity shares of face value Re 1 each at a premium of Rs 1,034 each on preferential / private placement basis.

The members have approved to issue 1,50,00,000 fully paid—up preference shares of face value Re 1 each at a premium of Rs 99 each on preferential basis to promoter group.

Further, the members have approved the amendments to the capital clause for reclassifying 1% 15,000 non-cumulative, non-participating redeemable preference shares of face value Rs 100 each to 15,00,000 non-cumulative, non-participating redeemable preference shares of face value Re 1 each; 1,35,000 unclassified shares of face value Rs 100 each into 1,35,00,000 non-cumulative, non-participating redeemable preference shares of face value Re 1/- each and changed the face value of the balance unclassified shares; 1,50,000 shares of face value Rs 100 each to 1,50,00,000 shares of face value Re 1 each.

This was approved at the extra ordinary general meeting held on 17 November 2007.