JKINDUSTRY

J.K.Industries Limited had informed the Exchange that the meeting of board of directors has been convened to be held on February 08, 2006 to consider, inter-alia, options of Restructuring of the company.The Company has further informed the Exchange that Ernst & Young Private Ltd. (E & Y) and M/s Amarchand Mangaldas & Suresh A Shroff & Co (AMSS), who were appointed as Advisors and Legal Advisors, respectively, have advised that the Investments of J. K. Industries Limited (JKI) be demerged into a separate Undertaking. This shall provide residual Tyre business an opportunity for more focused appr

Accordingly to give effect to the above, the paid up equity capital of JKI shall be reorganized in the following manner :- The equity shareholders holding 100 equity shares of JKI will get 75 fully paid up equity shares of Rs.10 each of JKI (Residual) and 25 fully paid up equity shares of Rs.10 each of NewCo. The Appointed Date for the above Scheme shall be October 01, 2005. Further, the Company has submitted to the Exchange a copy of press release regarding the same and the details of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest