AK Capital AGM approves 25% dividend

AK Capital Services Ltd has announced that the members at the 13th Annual General Meeting (AGM) of the Company held on September 30, 2006, inter alia, have approved the declaration of dividend @ 25% on the face value of equity shares out of the current profits for the year.

Authority to the Board to offer, issue and allot Equity Shares or instruments convertible into equity in any form such as American Depository receipts and / or Global Depository Receipts and / or Equity Shares through Prospectus and / or to make Qualified Institutional Placements (QIPs) as per Chapter XIII-A of Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 or any combination thereof, ("the securities") for an aggregate amount not exceeding Rs 200 Crores inclusive of premium as the Board may at its discretion determine, to all eligible investors including Indian / Foreign / Resident / Non-resident Investors (whether Institutions, Incorporated Bodies, Mutual Funds, Trusts / Foreign Institutional Investors / Banks / Qualified Institutional Buyers (QIBs) and / or otherwise (whether shareholders of the Company or not) in one or more tranches, if any, as may be decided /agreed to by the Board or as the Board may at its absolute discretion deem fit, in one or more combination thereof, in such manner and at such time as Board may determine. Also the QIP, if any as per Chapter XIII-A of the SEBI (DIP) Guidelines,2000 if any shall not exceed five times the networth of the Company as per the audited Balance Sheet as at March 31, 2006 and that the relevant date for the purpose of pricing of Qualified Institutional Placement shall be August 31, 2006, subject to necessary provisions & approvals.

Source : Equity Bulls

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