INEOS Styrolution India Ltd Board recommends Dividend of Rs. 4

The Board of Directors of INEOS Styrolution India Ltd at its meeting held on May 16, 2016, has approved and recommended a dividend of Rs. 4/- per Equity share of Rs. 10/- each (40%) for the financial year ended on March 31, 2016, subject to approval of members at the ensuring Annual General Meeting (AGM).

With effect from May 16, 2016, Mr. Ravindra Kulkarni has resigned from the office of his directorship in the Company and Dr. Anke Frankenberger has resigned from the office of his directorship in the Company.

With effect from May 16, 2016, Ms. Ryna Karani has been appointed as an Independent Director of the Company. Ms. Karani is a partner in ALMT Law Firm in Mumbai. She has vast experience in the field of mergers and acquisitions. She is also on the Board of Reliance Infrastructure Limited and Reliance Defence and Engineering Limited.

Mr. Bhupesh P. Porwal has been appointed as an Additional Director of the Company.

The Board meeting commenced on 13:45 hours (IST) and concluded at 16:30 hours (IST)

Shares of STYROLUTION ABS (INDIA) LTD. was last trading in BSE at Rs.581.6 as compared to the previous close of Rs. 604.85. The total number of shares traded during the day was 6279 in over 243 trades.

The stock hit an intraday high of Rs. 602 and intraday low of 575. The net turnover during the day was Rs. 3681882.

Source : Equity Bulls

Keywords