Hindustan Tin Works to dispose HTW Beverage Can (India) Pvt Ltd

Hindustan Tin Works Ltd has announced that the members at the 48th Annual General Meeting (AGM) of the Company held on September 01, 2006, inter alia, have approved the declaration of dividend @12% i.e Rs 1.20 per share for the year ended March 31, 2006 on equity shares of the Company.

Authority to the Board to dispose, sell, Transfer and / or procure to transfer certain identified assets / capital work in progress (CWIP) including equipments situated at its unit in Raigad Maharashtra to M/s HTW Beverage Can (India) Pvt Ltd (the JV Company) at a value not exceeding Rs 90 crores, subject to necessary approvals and provisions.

Authority to the Board to invest from time to time from the funds of the Company in the Equity Share capital or other Securities and / or give guarantee or provide security in connection with a loan made to HTW Beverage Can (India) Pvt Ltd upto an extent of Rs 100 crores, subject to necessary approvals and provisions.

Source : Equity Bulls

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