Jumbo Bag Board recommends 10% dividend

Jumbo Bag Ltd has announced that the Board of Directors of the Company at its meeting held on June 25, 2007, inter alia, has transacted the following:

1. Recommended a dividend of 10% (Rs 1/-) per Equity shares of face value of Rs 10/- per Equity Share for the year ended March 31, 2007.

2. Discussed the subject of issue of Equity Share Warrants on Preferential Basis to certain Promoters and Non-Promoters as already approved by it in its meeting held on January 22, 2007. The Board noted that one of the proposed promoter acquirer has informed that approval of SEBI is awaited on their proposed acquisition of share warrants by preferential basis. Hence the Board has deferred the Proposal of issue of share warrants on preferential basis as already informed to the stock exchange. The matter will be taken up as soon as approval of SEBI is received.

Source : Equity Bulls

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