Premier Explosives AGM declares 15% dividend

Premier Explosives Ltd has announced that the members at the 26th Annual General Meeting (AGM) of the Company held on September 29, 2006, inter alia, have approved the declaration of dividend @ 15% on the equity shares for the year ended March 31, 2006.

Authority to the Board for mortgaging and / or charging of all the immovable and movable properties of the company wheresoever situated, present and future, and the whole of the undertaking of the company and/or conferring power to enter upon and take possession of the assets of the company in certain events to or in favour of M/s Export-Import Bank of India in connection with sanction of foreign currency term loan for an amount not exceeding USD 1.70 million equivalent to Rs 7.50 crores approx.

Authority to the Board for mortgaging and / or charging of all the immovable and movable properties of the company wheresoever situated, present and future, and the whole of the undertaking of the company and / or conferring power to enter upon and take possession of the assets of the company in certain events to or in favour of M/s Export-Import Bank of India in connection with sanction of term loan for an amount not exceeding Rs 3.96 crores.

Authority to the Board for mortgaging and / or charging of specific immovable and movable properties of the company wheresoever situated, present and future and / or conferring power to enter upon and take possession of the assets of the company in certain events to or in favour of M/s Canbank Factors Ltd in connection with sanction of Purchase Bill Discounting facility for an amount not exceeding Rs 100.00 lacs.

Source : Equity Bulls

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