Kamla Dials AGM approves dividend, rights issue

Kamla Dials & Devices Ltd has announced that the members at the 26th Annual General Meeting (AGM) of the Company held on September 23, 2006, inter alia, have approved the payment of Dividend @ 15% (i.e. Rs 1.50 per equity share) for the Financial year ended on March 31, 2006.

Increased the Authorised Share Capital of the Company from Rs 10,00,00,000 consisting of 1,00,00,000 Equity Shares of Rs 10 each to Rs 20,00,00,000 consisting of 2,00,00,000 Equity Shares of Rs 10 each and consequential amendments in the Memorandum and Articles of Association of the Company.

Authority to the Board 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 at a price as may be decided by the Board in consultation with the Merchant Bankers, subject to necessary provision & approvals.

Source : Equity Bulls

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