Jain Studios Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 15, 2011 has taken the following decisions:
1. Acceptance of In-principle approval letter of Stressed Assets Stabilization Fund (SASF) towards One Time Settlement (OTS) of outstanding loan.
2. Allotment of 50,00,000 Equity Shares of the face value of Rs 10/- each at par to Stressed Assets Stabilization Fund, pursuant to the One Time Settlement (OTS) of outstanding loan.
3. Allotment of 60,50,000 Equity Shares to persons belonging to the Promoter category, at a price, as determined as per SEBI (ICDR) Regulations, 2009.
4. Allotment of 51,50,000 Warrants to persons belonging to the Promoter category, at a price, as determined as per SEBI (ICDR) Regulations, 2009, convertible into equivalent number of Equity Shares.
5. to convene an Extraordinary General Meeting of the Company on April 13, 2011 to seek Shareholders' approval for the above said allotments.
Sensex
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Tuesday, March 15, 2011
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