Akar Tools recommends 14% dividend

Akar Tools Ltd has announced that the Board of Directors of the Company at its meeting held on August 25, 2006, inter alia, has transacted the following:

1. Recommends a dividend of Rs 1.40 per equity shares (i.e. @14%) for the F.Y. 2005-06.

2. The Company has made an application to Registrar of Companies, Mumbai for getting an extension of 3 months for conducting 17th Annual General Meeting.

3. The Hon´ble Bombay High Court, Mumbai has sanctioned the Scheme of Amalgamation of Ajanta Auto Industries Pvt Ltd with the Company vide its order dated July 27, 2006. The Company has received the copy of said order of Hon’ble High Court on August 19, 2006.

Source : Equity Bulls

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