Ambika Cotton AGM approves 20% dividend, to list in NSE

Ambika Cotton Mills Ltd has announced that the members at the 18th Annual General Meeting (AGM) of the Company held on September 28, 2006, inter alia, have approved the declaration of dividend at the rate of 20% (Rs 2.00 Per share).

Authority to the Board for borrowings from time to time any sum or sums of money which together with the money already borrowed by the Company. (apart from temporary loans obtained from the bankers of the Company in the ordinary course of business) shall not exceed in the aggregate at any one time Rs 400.00 Crores irrespective of the fact that such aggregate amount of borrowing outstanding at any one time may exceed the aggregate for the time being of the paid-up capital of the company and its free reserves, that is to say, reserves not set apart for any specific purpose.

Listing of Equity Shares of the Company with National Stock Exchange, subject to necessary provisions & approvals.

Source : Equity Bulls

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