Jaihind Projects to issue shares on preferential basis

Jaihind Projects Ltd has announced that pursuant authority delegated to The Board of Directors in terms of resolution passed on April 13, 2007, the Board has met again and calculated the premium amount on relevant date on April 18, 2007 and has superseded the earlier resolution by passing the resolution for the preferential issue of 1000000 Equity Shares of Rs 10/- each at a premium of Rs 31/- per share instead of Rs 30/- per share as decided in the meeting of April 13, 2007. There is also change in promoter group and list of allottees.

The resolution passed by the Board of Directors of the Company at its meeting held on April 21, 2007 as follows:

1. Authority to the Board to take effective steps to offer 10,00,000 Equity Shares of Rs 10/- each at a premium of Rs 31 calculated on relevant date on April 18, 2007 to the following persons acting in concert with the promoters the Company on preferential basis, determined in accordance with the SEBI Guidelines, 2000.

A. persons acting in concert with the Promoters of the Company

i. Mr. Prakash L Hinduja Jointly with Gaurav P Hinduja (Promoter Group): 2,00,000 No of Equity Shares proposed to be allotted

ii. Mr. Prakash L Hinduja Jointly with Mr. Dinesh L Hinduja (Promoter Group): 2,00,000 No of equity shares proposed to be allotted

iii. Mrs. Nita P Hinduja jointly with Mr. Prakash L Hinduja (Promoter Group): 2,00,000 No of equity shares proposed to be allotted

iv. Gaurav Prakash Hinduja (Promoter Group): 1,00,000 No of equity shares proposed to be allotted

v. Lallan Pandey (Promoter Group): 10,000 No of equity shares proposed to be allotted

B. Other Acquirers

i. Mukesh Keswani (Non Promoter): 10,000 No of equity shares proposed to be allotted

ii. Dcom Systems Ltd (Non Promoter): 2,80,000 No of equity shares proposed to be allotted

All the above mentioned proposed allottees in "A" are the relatives of the Promoters of the Company and have been defined as persons acting in concert.

Source : Equity Bulls

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