Sukhjit Starch AGM approves 42% dividend, 1:1 bonus issue

Sukhjit Starch & Chemicals Ltd has announced that the members at the 62nd Annual General Meeting (AGM) of the Company held on September 20, 2006, inter alia, have approved the declaration of dividend @ 42% on equity shares of the Company for the year ended March 31, 2006.

Authority to Board for Capitalization of a sum not exceeding Rs 3,68,99,l00/- from the Share Premium Account Reserves of the Company for the purpose of issue of Bonus Shares of Rs 10/- per share as fully paid up Equity Shares of the Company to the Shareholders whose name shall appear on the Register of Members on the record date as decided by the Board or Committee thereof for the purpose, in the proportion of one bonus share of Rs l0/- for every one fully paid, up Equity Share of Rs 10/- held by them and that both shares so distributed shall for all purposes be treated as increase in the paid up share capital of the Company.

Substituting a part of Capital Clause stated under item no 5 of the Memorandum of Association of the Company and to be read as follows;
"Capital of the Company is Rs 10,00,00,000/- divided into 1,00,00,000 Shares of Rs l0/- each" for the existing wording "The Capital of the Company is Rs 5,00,00,000 divided into 50,00,000 shares of Rs.1O/- each."

Source : Equity Bulls

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