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| Exchange Disseminated Time | Jayaswal Neco Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 10, 2012 inter alia, has transacted the following :
1. Issue of further Equity Shares.
Approval to the issue of further 700 Lacs Equity Shares of Rs. 10/-each Premium of Rs. 30/- per share on Preferential Basis subject to requisite approvals from the Stock Exchanges, Members and SEBI (ICDR) Regulations, 2009.
2. Subsidiary Company.
The Board has unanimously approved the proposal for disinvestment of the Equity Shares held by it in the subsidiary company Jayaswal Neco Urja Limited, after obtaining requisite approvals from the Government of India. The proposed Power Plant envisaged to be implemented by the subsidiary company will be set up under another Company as may be deemed fit in due course. On receipt of requisite approvals steps on suitably altering the provisions of Memorandum of Article of Associations of the Company will be initiated. |
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