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News about JM Financial Limited

June 25th, 2007

NSE Press Release

The media had reports that JM Financial Limited may buy 50% stake in ASK Securities.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

JM Financial Limited has vide its letter inter-alia stated,”We wish to clarify / inform that JM Financial Group keeps on exploring various proposals from time to time. However, if and only if, the proposals that are considered by the Management get crystallized, then only they are placed before the Board of Directors of the Company for their consideration. The intimation / disclosure to the Stock Exchange under the Listing Agreement could only be made after the decision is taken by the Board of Directors to go ahead with any such proposal. As and when the proposal, if any, is approved by the Board, the company will intimate the same to the Exchange.”

Entry Filed under: Equity Markets, NSE