Pioneer Embroideries Board recommends 15% dividend, to issue securities

Pioneer Embroideries Ltd has announced that the Board of Directors of the Company at its meeting held on December 05, 2006, has recommended a dividend @ 15% i.e. Rs. 1.50 per equity share for the year ended March 31, 2006 and shall be paid to the shareholders on being approved by the members at the ensuing Annual General Meeting of the Company.

Further, the Board of Directors has also approved the following:

1. Preferential Issue of Equity Shares / Warrants / Other Financial Instruments which would be converted into or exchanged with Equity Shares at a later date to the Promoters of the Company; and

2. Preferential Issue of Equity Shares / Warrants / Other Financial Instruments which would be converted into or exchanged with Equity Shares at a later date to persons other than Promoters subject to the approval of Shareholders at the ensuing Annual General Meeting of the Company.

Source : Equity Bulls

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