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Stock Report
Alok Industries AGM approves 12% dividend, increases borrowing power
Posted On : 2006-10-05 05:24:30( TIMEZONE : IST )
Alok Industries Ltd has informed BSE that the members at the 20th Annual General Meeting (AGM) of the Company held on September 29, 2006, inter alia, have approved the declaration of final preference dividend for the financial year 2005-06. Declaration of equity dividend of Rs 1.20 per share for the financial year 2005-06.
Authority to the Board for borrowing from time to time any sum or sums of monies, as it may considered fit for the business of the Company on such terms and conditions as it may deem fit and expedient in the interests of the Company, notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company’s bankers in the ordinary course of business) may exceed the aggregate of the paid-up capital of the Company and its free reserves (that is to say, reserves not set apart for any specific purpose) provided that the maximum amount of monies so borrowed by the Company shall (apart from temporary loans obtained or to be obtained from the Company’s bankers in the ordinary course of business) and outstanding at any given point of time, not at any time exceed the sum of Rs 5000 crores, subject to necessary provisions & approvals.
Authority to the Board for mortgaging and/or charging all or any of the present and/or future movable and/or immovable properties and assets and the whole or substantially the whole of the undertaking(s) of the Company, on such terms and conditions and in such form and manner, as the Directors may determine for the purpose of securing unto various lenders who have granted and/or who may hereafter grant to the Company, financial facilities in the nature of short term/long term loans, bridge loans, short term/long term secured Non-Convertible Debentures or other forms of secured financial facilities for an aggregate nominal value not exceeding Rs 5000 crores for the purpose of securing the said financial facilities granted / to be granted to the Company, together with interest, further interest, liquidated damages, costs, charges, expenses and other monies payable by the Company under the terms of the respective financial facilities, subject to necessary provisions & approvals.
