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JK Bank
BSE: 532209NSE: J&KBANKISIN: INE168A01041

15th-Mar-2017 22:51Source: BSE

JK Bank - Allotment Of 3,65,55,051 Equity Shares Of Rs. 1/- Each Fully Paid To The Government Of Jammu & Kashmir, Promoter & Majority Shareholder Of The On Preferential Basis

Pursuant to Regulation 29(1)(d) and 29(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to intimate that pursuant to the special resolution passed by the members of the Bank on March 15, 2017 through postal ballot for issue of 3,65,55,051 equity shares of Rs. 1/- each fully paid up to the J&K Govt. on a preferential basis, in-principle approvals received from the stock exchanges and subject to receipt of the requisite approval from the Reserve Bank of India, a meeting of the Board of Directors of the Bank is scheduled to be held on Monday, 20th March, 2017 inter-aliato consider and approve the allotment of 3,65,55,051 equity shares of Re. 1/- each fully paid-up to the J&K Govt.on a preferential basis at the issue price of Rs. 68.39 per equity share (including a premium of Rs. 67.39 per equity share) aggregating to an amount of Rs. 249,99,99,938.

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