Electrotherm India to raise funds, AGM approves 20% dividend

Electrotherm India Ltd has announced that the members at the 21st Annual General Meeting (AGM) of the Company held on June 25, 2007, have approved the following:

1. Adoption of the Balance Sheet as at March 31, 2007 and the Profit & Loss account for the year ended on that date, together with the report of the Directors’ and Auditors’ Report thereon.

2. Declaration of Dividend @ 6% on Preference Shares.

3. Declaration of Dividend @ 20% i.e. Rs. 2.00 per Equity Share of the Company for the year ended March 31, 2007.

4. Re-appointment of Mr. Harish Sharma, Mr. Narendra Dalal and Mr. Naveen Nakra, as Directors of the Company, retired by rotation.

5. Re-appointment of M/s. Mehta Lodha & Co., Chartered Accountants, Ahmedabad as Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company.

6. To raise funds by issue of FCCBs or ADRs or GDRs or any other means not exceeding Rs 300 Crores.

Source : Equity Bulls

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