Sri Adhikari Brothers Board approves increase in share capital, recommends 6% dividend

Sri Adhikari Brothers Television Network Ltd has announced that the Board of Directors of the Company at its meeting held on August 29, 2006, inter alia, has resolved the following:

1. Approved recommendation of Dividend @ 6 % (Rs 0.12 per share) to the Equity Shareholders of the Company for the financial year ended March 31, 2006.

2. Approved the proposal to raise the funds by issue / offer of the securities including Equity Shares / GDRs / ADRs / FCCBs / Warrants / Bonds or any other financial instruments.

3. Decided to increase the Borrowing Limits of the Company under Section 293(1)(d) of the Companies Act, 1956 to the extent of Rs 1000 million.

4. Approved the proposal to increase the Authorised Share Capital of the Company from Rs 150 million to Rs 200 million.

Source : Equity Bulls

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