Marg Constructions Board declares 20% interim dividend, to raise funds

The Board of Directors of Marg Constructions Ltd at its meeting held on March 30, 2007, inter alia, has declared Interim Dividend of 20% (i.e. Rs 2/- per equity share) for the financial year 2006-07.

The company has allotted 36,99,900 equity shares upon conversion of 36,99,900 warrants to promoters and promoters group.

Mr. Arun Kumar Gurtu was appointed Additional Director on the Board and accepted Resignation of Mr. R Rangarajan & Mr. Ramani Ramaswamy Directors.

The Board also constituted a Committee of Directors for Allotment upon conversion of Warrants, Foreign Currency Convertible Bonds (FCCBs) and Global Depository Receipts.

The Directors also reviewed ongoing projects of the Company.

Shares of the company closed on Friday at Rs.144.05, down by Rs.2.10 or 1.44% on volume of 38262 shares compared to 2 week average quantity of 71228 shares.

Source : Equity Bulls

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