Industrial Investment Updates on dividend

Industrial Investment Trust Ltd has announced that the financial statements for the year ended March 31, 2007 were approved by the Board of Directors in its meeting held on June 30, 2007, wherein the dividend was not recommended.

Subsequently the Board has taken a decision to provide for diminution in the value of investments. The Board has also proposed dividend @ 20% for the aforesaid financial year out of the accumulated balance in the Profit and Loss Account. Accordingly the financial statements have been revised incorporating the changes consequent to aforesaid decision.

The Company will therefore hold the Board Meeting on August 16, 2007 to recommend the dividend.

Further the Company has informed that, the Board of Directors in its meeting held on July 25, 2007 inter alia, had taken on record the Unaudited Financial results for the first quarter ended June 30, 2007.

In view of the changes in the Audited results for the year ended March 31, 2007, the Board will also reconsider and approve the Unaudited Financial Results for quarter ended June 30, 2007 in the said Board Meeting to be held on August 16, 2007.

Source : Equity Bulls

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