JM Financial Ltd.said March 29 that it will appoint new registrar and transfer agents after it decidedto terminate its agreement with Sharepro Services.

The company said it terminated the agreement in view of irregularitiesobserved with respect to the company's share-related operations and dividend encashmentactivities.

The company is also in the process of appointing an appropriateagency to conduct a thorough audit of the records and systems of Sharepro Services.