AK Capital Board recommends 25% dividend

AK Capital Services Ltd has announced that the Board of Directors of the Company at its meeting held on August 29, 2006, has transacted the following:

1. Change in the place of maintenance of Books of Account from New Delhi to Mumbai Office.

2. Recommended a Dividend @ 25% for the Financial Year 2005-06.

3. The Chairman informed the Board that Mr Deepak Mittal and Mrs Shyam Lata Garg retire by rotation and being eligible have offered themselves for re-appointment.

4. To consider the issue of Equity Shares or instruments convertible into equity in any form such as American Depository receipts and for Global Depository Receipts and / or Foreign Currency Convertible Bonds and / or convertible warrants and / or Equity shares through Prospectus / letter of offer or circular and / or Private Placement Basis or on preferential Basis or to make Qualified Institutional Placements (QIP) or any combination thereof.

5. The term of Shri Subash Chandra Madan and Shri Raghubinder K Rai as Additional Directors of the Company expires at the ensuing Annual General Meeting of the Company. The Board recommends their appointment.

Source : Equity Bulls

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