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Stock Report
Satyam Computer AGM approves 250% dividend
Posted On : 2006-09-22 09:10:59( TIMEZONE : IST )
Satyam Computer Services Ltd has announced that the members at the 19th Annual General Meeting (AGM) of the Company held on August 21, 2006, inter alia, have approved the following:
1. Declaration of final dividend of 250% on the Paid-up Equity Share Capital of the Company for the financial year 2005-06.
2. Authority to the Board to issue, offer and allot to any one or more or all of the permanent employees and directors of the Company (other than (i) promoter directors and (ii) those directors who hold directly or indirectly more than 10% of the outstanding equity shares of the Company), Restricted Stock Units (RSUs) exercisable into equity shares and / or securities linked to American Depositary Shares (ADSs) at the option of the Company and / or holder of the securities up to 65,00,000 (or such other adjusted figure for any bonus, stock splits or consolidations or other re-organisation of the capital structure of the Company as may be applicable from time to time) of nominal value Rs 2 each under a "Associate Stock Option Plan - RSUs" to be created by the Company for the benefit of employees, at an exercise price of not less than the face value of the equity shares of the Company, subject to necessary provisions & approvals.
3. Authority to the Board to issue, offer and allot to any one or more or all of the permanent employees and directors of the subsidiary companies whether in India or overseas (other than (i) promoter directors and (ii) those directors who hold directly or indirectly more than 10% of the outstanding equity shares of the Company), Restricted Stock Units (RSUs) exercisable into equity shares and / or securities linked to American Depositary Shares (ADSs) at the option of the Company and / or holder, of the securities within and out of RSUs as may be earmarked under a "Associate Stock Option Plan - RSUs" pursuant to Item No. 6 of this notice, at an exercise price of not less than the face value of the equity shares of the Company, subject to necessary provisions & approvals.
