Sangam India AGM approves 15% dividend, to raise capital

Sangam India Ltd has announced that the members at the 20th Annual General Meeting (AGM) of the Company held on September 30, 2006, inter alia, have approved the following:

1. Dividend © 15% on 3,33,29,230 Equity Shares and @ 10% (pro-rata basis) on 52,00,000 Preference Shares of the Company.

2. Increase in the Borrowing Powers of the Board.

3. Increase in the Mortgaging Powers of the Board.

4. Further issue of shares by way of either public issue, right issue, private placement, preferential allotment.

5. Increase in Authorised Capital of the Company.

6. Change in the Memorandum of Association in respect of Authorised Capital.

Source : Equity Bulls

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