Adlabs Films AGM approves 45% dividend

Adlabs Films Ltd has announced that the members at the 19th Annual General Meeting (AGM) of the Company held on July 29, 2006, inter alia, have accorded to the following:

1. Declaration of dividend of Rs 2.25 per equity share (45%) on equity shares of Rs 5/- each.

2. The utilization of the balance standing in the Securities Premium Account of the Company in the following manner:

a. To adjust the excess of Book Value of the assets of the Radio Business of the Company transferred to Reliance Unicom Ltd (RUL) over the Book Value of liabilities transferred, as reduced by an amount of Rs 1000 million which shall be recorded as receivable from RUL and/or,

b. To adjust the excess, if any, of Book Value of liabilities of Entertainment One (India) Ltd transferred over the Fair Value of assets taken over, and/or,

c. To adjust the excess, if any, of Book Value of liabilities of the Digital Cinema Business of Mukta Adlabs Digital Exhibition Private Limited over the Book Value of assets taken over, subject to necessary provisions & approvals.

Source : Equity Bulls

Keywords