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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 July 29, 2011, has approved the proposal to increase Authorised Share Capital up to Rs. 1000 Crores, and issue subject to necessary regulatory approvals 6,99,59,559 equity shares of Rs. 10 each at a premium of Rs. 30 each to Promoter Group entities and others so as to raise equity up to Rs. 279.84 Crores for funding the expansion projects under implementation.
Accordingly, necessary resolutions for increase in Authorised Share Capital, consequential alterations to the Memorandum and Articles of association and issue of equity shares on preferential basis to entities belonging to Promoter group and other than Promoter group and the terms and conditions thereof shall be placed before the Members of the Company at the forthcoming Annual General Meeting to be held on or around September 15, 2011 for their approval. |
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