Seshasayee Paper declares 25% dividend

Seshasayee Paper & Boards Ltd has announced that the members at the 46th Annual General Meeting (AGM) of the Company held on July 29, 2006, inter alia, have accorded to the following:

1. Adoption of the audited Balance Sheet as at March 31, 2006, the Profit and Loss Account for the year ended that date, Directors Report and Auditors Report thereon.

2. Declaration of dividend at the rate of 25% on the Equity Capital (Rs 2.50 per fully paid up Equity Share of Rs 10/- each).

3. Retirement of Sri M R B Punja & the vacancy caused by his retirement be left unfilled for the present.

4. Re-appointment of Messrs Suri & Co., Chennai, and Messrs S Viswanathan, Chennai, as Auditors of the Company, to hold office from the conclusion of this meeting, until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Re-appointment of Sri N Gopalaratnam, as Chairman and Managing Director of the Company for a period of three years, with effect from April 01, 2006 and upto March 31, 2009, on remuneration, terms & conditions.

6. Approval for commencement of business of trading in all kinds of Fuels, including Petrol, Diesel and other Petroleum products, subject to necessary provisions & approvals.

Source : Equity Bulls

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