Champagne Indage AGM approves 18% dividend, to issue shares on preferential basis

Champagne Indage Ltd has announced that the members at the 21st Annual General Meeting (AGM) of the Company held on September 18, 2006, inter alia, have transacted the following business:

1. Declaration of dividend at the rate of Rs 1.80/- per Equity Share of Rs 10/- each.

2. Increase in Authorised Capital and amendment to Memorandum of Association and Articles of Association was approved.

3. Issue of 31,25,000 Equity Shares Warrants by private placement on preferential basis was approved.

4. Authority to Board to borrow funds upto Rs 500 Crores and the to create charges / mortgages / hypothecations on the assets of the Company for the above purpose were approved.

Source : Equity Bulls

Keywords