Jaju Enterprises to reduce capital

Jaju Enterprises Ltd has announced that the Board of Directors of the Company at its meeting held on August 20, 2007, has accorded for Reduction of issued and paid-up Equity Share Capital of the Company from Rs 3,04,64,000/- divided into 30,46,400 Equity Shares of Rs 10/- each fully paid up to Rs 1,88,87,680/- divided into 18,88,766 Equity Shares of Rs 10/- each fully paid up, subject to necessary provisions and approvals.

Further the Company has informed that the reduction of Equity Share Capital be done by cancellation of 40% of existing Equity Shares having face value of Rs 10/- each on the terms and conditions detailed herein below:

a. Upon the Order of the High Court / Tribunal becoming finally effective, the Company shall determine a Record date for the purpose of cancellation of the existing paid up equity share capital in the ratio of cancellation of thirty eight (38) Equity Shares of Rs 10/- each out of every Hundred (100) Equity Shares of Rs 10/- each held by the Equity Shareholders.

b. The remaining Six (62) Equity Shares of Rs 10/- each out of the Hundred (100) Equity Shares of Rs 10/- each shall continue to be held by the Equity Shareholder-s as fully paid-up Equity Shares of Rs. 101- each without any alteration to the rights attached thereto

Source : Equity Bulls

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