RTS Power announces 5% final dividend, to issue preferential shares at Rs.95

RTS Power Corporation Ltd has announced that the Board of Directors of the Company at its meeting held on August 26, 2006, inter alia, has decided the following:

1. A Final Dividend @ 5% or Rs 0.50 per share has been recommended, keeping in mind the overall performance of the Company and with positive future outlook, for the year ended March 31, 2006 on the paid-up Equity Share Capital of the Company.

Further the Company has informed that earlier the Board recommended an Interim Dividend for the year ended March 31, 2006 @ 5% or Re 0.50 per share which has already been paid by the Company to the eligible Shareholders in the month of March, 2006.

2. The Board has proposed, subject to the approval of the Members in the Annual General Meeting and such other approval as may be required, Issue of Preferential Allotment of 20,00,000 Warrants to the Companies of the Promoters Group, with an option to acquire, for every Warrant, one fully paid-up Equity Share of Rs 10/- each of the Company for cash, at a price of Rs 95/- per Equity Share in one or more tranches, in compliance with "Guidelines for Preferential Issues" issued by SEBI under SEBI (Disclosure & Investor Protection) Guidelines, 2000.

Source : Equity Bulls

Keywords