Board recommends Dividend

• Security Code: 503031
• Company: PENINLAND

Peninsula Land Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 27, 2013, inter alia, has recommended dividend as detailed below:

1. Re. 0.50 per share on 5% Cumulative Redeemable Preference Shares of Rs. 10/- each.

2. Rs. 1.50/- per share on Equity shares of Rs. 2/- each.

Further the Company has informed that, the Board of Directors considered and approved as on May 27, 2013 also in principally Restructuring / Merger plan of certain subsidiary Company with the Company. Further it was decided to convert certain other companies into Limited Liability Partnerships.

Further, the Board has constituted and authorized a “Restructuring Committee” comprising of the Whole - Time Directors of the Company to finalise the proposed restructuring and take all necessary steps including finalization of Scheme and implementing the same.