Ajcon Global - Updates

Ajcon Global Services Ltd has informed BSE that the Company has forfeited a sum of Rs. 57,37,500/- (Rupees Fifty Seven Lacs Thirty Seven Thousand & Five Hundred Only) being the 10% advance amount paid on 6,75,000 Share Warrants for the non payment of balance amount of Rs. 76.50 per Share Warrant upto the last date of September 04, 2009 i.e. 18 months from the dated of allotment of the said Warrants. Further, the Company had allotted 6,75,000 Share Warrants @ Rs. 85/- per Share Warrant on March 05, 2008, and the last date for payment of balance amount was September 04, 2009.

The forfeited amount of Rs. 57,37,500/- has been transferred to General Reserve Account of the Company.