Sagar Cements AGM approves issue of warrants, increase in share capital

Sagar Cements Ltd has announced that the members at the 25th Annual General Meeting (AGM) of the Company held on September 28, 2006, inter alia, have approved the declaration of dividend @ 10% on the Equity shares of the Company for the year ended March 31, 2006.

Enhancement of Board's borrowing power up to Rs 400.00 Crores.

Increase in the Authorised Share Capital of the Company from Rs 14.00 Crores to Rs 22.00 Crores.

To issue 18,50,000 Warrants on a preferential basis to the promoter group, subject to necessary further approvals.

Source : Equity Bulls

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