Damodar Threads declares Rs.1 per share dividend, to increase authorized share capital

Damodar Threads Ltd has announced that the members at the 18th Annual General Meeting (AGM) of the Company held on August 24, 2006, inter alia, have approved the declaration of Dividend at the rate of Rs 1/- per share on the Equity Share for the year ended March 31, 2006.

Increase in the Authorized Share Capital of the Company from Rs 5,00,00,000/- divided into 50,00,000 Equity Shares of Rs 10/- each to Rs 15,00,00,000 divided into 1,50,00,000 Equity shares of Rs 10/- each & consequential amendment in the Memorandum & Articles of Association of the Company.

Authority to the Board to issue, offer and allot as many equity shares as may be decided by the Board as its deems fit in one or more trenches, not exceeding 904300 equity shares of Rs 10/- each at premium not less than of Rs 15/- per share and subject to such terms and conditions as the Board may deem fit to any person or persons, as may be decided by the Board whether person or persons is / are existing member or members of the Company or not, subject to necessary provisions & approvals.

Source : Equity Bulls

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