Kamla Dials equity shareholders approve 15% dividend & 2:3 right issue

Kamla Dials & Devices Ltd has announced that the shareholders at their Meeting held on September 23, 2006, inter alia, have approved the resolution Under Section 81 / 81(1A) and all other applicable provisions of the Companies Act, 1956 to issue, offer and allot upto 38,99,480 Equity Shares of Rs 10/- each for cash at premium of Rs 12/- aggregating to sum not exceeding Rs 8,57,88,560/- (including premium), to the existing Equity Shareholders in the Share Capital of the Company in the proportion of 2:3 on a record date to be fixed by the Board.

Further the Company has informed that the shareholders have approved declaration of dividend @ 15% (i.e. Rs 1.50 per share) to the shareholders of the Company.

Source : Equity Bulls

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