KJMC Financial Services Ltd has informed that the Board of Directors of the Company at its meeting held on March 21, 2009, inter alia, has discussed and approved the following matters:
1. The Board approved the allotment of 1,44,200 Equity Shares upon exercise of right of conversion of 1st Tranche of Fully Convertible Warrants allotted on December 22, 2007 on Preferential basis to I C Jain, HUF at price of Rs 23.19 per share as determined in accordance with SEBI (Disclosure and Investor Protection) Guidelines 2000 to be converted into equal number of fully paid up Equity Shares of Rs 10/- each of the Company.
2. The Board approved the sale of 50% Equity Shares in its 100% subsidiary Companies viz, (i) KJMC Asset Management Company Ltd (ii) KJMC Investment Trust Company Ltd (iii) KJMC Capital Market Services Ltd (iv) KJMC Credit Marketing Ltd and (v) KJMC Commodities Market India Ltd, to KJMC Global Market (India) Ltd having the similar / identical shareholding pattern at a price certified by the valuer subject to necessary statutory / regulatory approvals, and other necessary approvals, wherever required.
1. The Board approved the allotment of 1,44,200 Equity Shares upon exercise of right of conversion of 1st Tranche of Fully Convertible Warrants allotted on December 22, 2007 on Preferential basis to I C Jain, HUF at price of Rs 23.19 per share as determined in accordance with SEBI (Disclosure and Investor Protection) Guidelines 2000 to be converted into equal number of fully paid up Equity Shares of Rs 10/- each of the Company.
2. The Board approved the sale of 50% Equity Shares in its 100% subsidiary Companies viz, (i) KJMC Asset Management Company Ltd (ii) KJMC Investment Trust Company Ltd (iii) KJMC Capital Market Services Ltd (iv) KJMC Credit Marketing Ltd and (v) KJMC Commodities Market India Ltd, to KJMC Global Market (India) Ltd having the similar / identical shareholding pattern at a price certified by the valuer subject to necessary statutory / regulatory approvals, and other necessary approvals, wherever required.
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