JMT Auto allots shares on conversion of warrants at Rs.108.15

JMT Auto Ltd has announced that the Board of Directors of the Company at its meeting held on May 12, 2007, inter alia, has transacted the following business:

1. Pursuant to Board resolution passed on September 21, 2006 1,20,0000 equity shares be allotted having a face value of Rs 10/- per share, @ Rs 108.15 including a premium of Rs 98.15 per share, to the warrant holders, Bach Ltd, on conversion of 1,20,000 warrants held by them, in accordance with SEBI (Disclosure and Investor Protection) Guidelines ,2000 for preferential issues and that necessary corporate action form be filled and submitted to the Depositories for dematerializing the above shares allotted.

Further, 1,40,000 equity shares and 40,000 equity shares be allotted having a face value of Rs 10/- per share, Rs 108.15 including a premium of Rs 98.15 per share, to the warrant holders, M/s. RSD Finance Ltd and Mr. Rajeev Singh Dugal, the promoters of the Company, respectively, on conversion of 1,40,000 warrants and 40,000 warrants held by them, respectively, in accordance with SEBI (Disclosure and Investor Protection) Guidelines .2000 for preferential issues and that necessary corporate action form be filled and submitted to the Depositories for dematerializing the above shares allotted.

2. Noted and took on record all forms containing affirmations from the Directors and Senior Management Personnel on abiding by the Code of Corporate Disclosure Practices and Conduct for prevention of Insider Trading.

3. Noted and recorded general notices under section 299 of the Companies Act, 1956 received from the Directors.

The stock was trading at Rs.99.85, up by Rs.2.15 or 2.20%. The stock hit an intraday high of Rs.99.85 and low of Rs.99.85. The total traded quantity was 100 compared to 2 week average of 1690.

Source : Equity Bulls

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