Raipur Alloys Board declares interim dividend

Raipur Alloys & Steel Ltd has announced that the Board of Directors of the Company at its meeting held on March 13, 2007, has approved the payment of interim dividend for the financial year 2006-07 @ 20% to the shareholders.

Further in the said meeting the Board has also approved, subject to approval of shareholders and / or any other approval(s) as may be required, the:

1. Issue of securities for an aggregate sum of Rs 200 crores, pursuant to the provisions of Section 81 (1A) and other applicable provisions of the Companies Act, 1956 (including any statutory modification(s) or re-enactment thereof, for the time being in force) and pursuant to the provisions of applicable Guidelines issued by SEBI. An enabling resolution is proposed.

2. The alteration in the Object clause of the Memorandum of Association.

3. Increase in the borrowing powers.

4. Calling of an Extra Ordinary General Meeting for the approval of the aforesaid matters.

Source : Equity Bulls

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