Chembond Chemicals recommends dividend of 32.5%

Chembond Chemicals Ltd has announced that the members at the 31st Annual General Meeting (AGM) of the Company held on July 29, 2006, inter alia, have accorded to the following:

1. Adoption of the Profit and Loss Account for the year ended March 31, 2006 and the Balance Sheet as on that date and the Directors´ Report and the Auditors´ Report thereon.

2. Declaration of dividend @ 32.50% on the Equity Shares of Rs 10/- each fully paid up for the year ended March 31, 2006.

3. Re-appointment of Mr Perviz Dastur and Mr O P Malhotra as Directors of the Company, liable to retire by rotation.

4. Re-appointment of M/s Kastury & Talati, Chartered Accountants, as Statutory Auditors of the Company for a period commencing from the conclusion of this Meeting up to the conclusion of the next Annual General Meeting of the Company, on remuneration, terms and conditions.

5. Appointment of Mr Sanjay N Nene as Director of the Company, liable to retire by rotation.

6. Authority to the Board to fix, decide and pay from time to time, at their discreation any fees, commission, remuneration or any other compensation, starting with financial year ended March 31, 2006, to the Non-executive Directors of the Company for the services rendered by them, subject to necessary provision & approvals.

Source : Equity Bulls

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