Jhaveri Flexo Board declares 16% interim dividend

Jhaveri Flexo India Ltd has announced that the Board of Directors of the Company at its meeting held on January 28, 2007, inter alia, has decided / approved the following:

1. Declared an Interim Dividend @ of 16% on the Equity shares of the Company.

2. Shifting of its registered office from B-22, MIDC Industrial Area, Waluj, Aurangabad to Gut No 74, Farola, Paithan Road, Aurangabad.

3. Constituted Compensation Committee to formulate Employee Stock Option Scheme for its employees and directors of the Company.

4. Increased authorised capital from Rs 1250 lacs to Rs 2000 lacs.

5. The Board discussed the opportunity available to the Company for expanding its existing business and gave the power to the Managing Director of the Company to look for the expansion cum diversification opportunities through organic / inorganic rout suitable for the Company upto investment of Rs 75 crores and also evaluate the proposal for raising of resources for the same through issue of equity and / or debt instruments or any combination thereof suitable in the best interest of the Company.

Source : Equity Bulls

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