Mawana Sugars Board recommends 10% dividend

Mawana Sugars Ltd has announced that the Board of Directors of the Company at its meeting held on November 13, 2006, inter alia, has transacted the following:

1. Recommended the dividend @ 10% for the financial year ended September 30, 2006 on its equity shares.

2. After detailed deliberation on the Scheme of Amalgamation of the Company & Siel Ltd, the Board has concluded that it is agreeable in principle to the proposal of amalgamation of the Company and Siel Ltd. However the Board would like to have additional information for its consideration before giving its final approval at another Board Meeting to be called shortly.

3. Annual General Meeting shall be held on January 15, 2007, subject to the approval of Registrar of Companies, NCT of Delhi & Haryana for granting an extension to hold the Annual General Meeting.

Source : Equity Bulls

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