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| Exchange Disseminated Time | Steel Strips Wheels Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 28, 2016, inter alia, has transacted the following:
1. Pursuant to Regulation 43 of the SEBI Regulations, the board of Directors has recommended final dividend @15% i.e. Rs. 1.50/- per fully paid up equity shares of Rs. 10/- each, subject to the approval of shareholders.
2. Approved to issue and allot up to 2,10,000 equity shares of Rs. 10/- each to Kalink Co. Ltd. (Non Promoter Category), @ 640/- per equity share, by way of preferential allotment basis, under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and its subsequent amendments made from time to time and other applicable rules, regulations and guidelines and subject to the approval of Shareholders, Statutory Authorities/ Regulatory authorities or any other approval as may be required.
Extra Ordinary General Meeting of shareholders of the Company shall be held on May 28, 2016 for the said purpose. |
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