The board of Gee Kay Finance & Leasing Company has approved allotment of 939290 Equity Shares of Rs. 10 each fully paid up arising consequent to conversion of 939290 6% Optionally Convertible Preference Shares (OCPS) of Rs.10 each at a price of Rs.48.80 (including premium of Rs.38.80) issued earlier on swap basis for consideration other than cash.
The board has also approved allotment of 2927238 Equity Shares of Rs.10 each fully paid up arising consequent to conversion of 2927238 6% Optionally Convertible Preference Shares (OCPS) of Rs.10 each at a price of Rs. 88.25 (including premium of Rs. 78.25) issued earlier on swap basis for consideration other than cash.
The board has also approved allotment of 2500000 Equity Shares of Rs. 10 each fully paid up arising consequent to conversion of 2500000 warrant of Rs. 10 each at an exercise price of Rs. 88.25 (including premium of Rs. 78.25).
Further the board has accepted the resignation of Raghunath Prasad Tiwari and Rajesh Tiwari from the Board of Directors of the Company.
This was approved at the board meeting held on 21 October 2009.