Nitco Tiles Board to recommend dividend, declare results

Nitco Tiles Ltd has announced that a meeting of the Board of Directors of the Company will be held on October 24, 2007, inter alia, to consider the following:

1. To consider and approve Audited Accounts for the financial year ended March 31, 2007.

2. To consider and recommend dividend on equity shares for the year 2006-07.

3. To approve unaudited financial result for the quarter and half year ended September 30, 2007 and approve utilization of IPO proceeds.

4. To approve "Employee Stock Option Scheme" (ESOS).

5. To allot equity shares pursuant to composite scheme of arrangement approved by the Bombay High Court subject to necessary approval from the Stock Exchanges.

6. To increase the FIIs investment limit from 49% to 66% in the equity capital of the Company.

Source : Equity Bulls

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