KJMC Financial - Outcome Of Board Meeting

KJMC Financial Services Ltd has informed that the Board of Directors of the Company at its meeting held on October 29, 2007, inter alia, has approved the following:1. Issue of 2,20,500 convertible warrants to be converted into equal number of Equity shares within a period of 18 months to Promoters Group. The price would be finalised on the relevant date as per the requirement of SEBT (DIP) Guidelines.2. Discontinuation / closing down of the Leasing Division of the Company and consequential write offs and adjustments subject to the approval of the members and Honble High Court, Mumbai.3. The Extra-ordinary General meeting of the Company in respect of the approval of above item No 2 and 3 will be held in due course.