Jost's Engineering Co has informed that the Board of Directors at their meeting held on Monday, 27th March, 2023, had approved the investment by way of purchase of 39,73,800 Equity Shares of MHE Rentals India (MHE Rentals), a Subsidiary Company, from the existing shareholders, in more than one tranche, at a price arrived by the Registered Valuer, consequent to the completion of which MHE Rentals will become Wholly Owned Subsidiary of the Company. Out of the approved investment by way of purchase of 39,73,800 Equity Shares of MHE Rentals, the Company has already purchased 19,86,900 Equity shares of MHE Rentals on 29th March, 2023 at Rs. 17.30 per share from the existing shareholders of MHE Rentals i.e. 752,750 Equity shares from Jai Prakash Agarwal and 240,250 Equity shares fro Rajendra Kumar Agarwal and 9,93,900 Equity shares from Vishal Jain, the intimation of the same was given to the stock exchange on 30th March, 2023 vide our letter dated 30th March, 2023. Further, on 4th August, 2023, Company had purchased 9,93,900 Equity shares of MHE Rentals from Vishal Jain, existing shareholder at Rs. 17.30 per share, the intimation of the same given to the stock exchange on 4th August, 2023 vide our letter dated 4th August, 2023.
The above information is a part of company’s filings submitted to BSE.
