Virinchi Technologies Board recommends 5% dividend

Virinchi Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on August 30, 2006, has transacted the following business:

1. Recommended a 5% Dividend for the Financial Year 2005-06.

2. Appointment of Mr Steve and Mr Samad Momin as Independent Directors and Mr Anil Kumar Pinapala and Mr Sreenivasa Sreekanth Uppuluri as Executive Directors.

3. Approved the amendment to Virinchi Employees Stock option Scheme 2004.

4. Approved the preferential allotment of Warrants.

Source : Equity Bulls

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