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| Exchange Disseminated Time 30/05/2016 16:16:12 | Industrial & Prudential Investment Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2016, inter alia, has transacted the following:
1. Dividend
- The Board of Directors have recommended total dividend of Rs.100 per share (including jubilee dividend of Rs. 45 per share) for the financial year ended March 31, 2016. The dividend, if approved, by the members at the 100th Annual General Meeting to be held on July 08, 2016 will be paid on or after July 18, 2016.
2. Issue of Bonus Shares
- The Board of Directors, subject to various approvals, has recommended issue of Bonus Shares in the ratio of two bonus shares of Rs. 10 each fully paid for every one equity share of Rs. 10 each fully paid on the record date to be fixed by the Board of Directors.
- Accordingly if Bonus Issue is approved by the members at the Annual General Meeting to be held on July 08, 2016, 11,63,560 Bonus Shares will be issued.
- Consequent to this the capital clause in the Memorandum and Articles of Association will be amended. The Bonus issue will be completed within 60 days of announcement i.e. by July 29, 2016. The date of credit of Bonus Shares will be intimated after the proposal is approved by the members.
3. Shifting of Registered Office
- Subject to various approvals the Board of Directors recommend shifting of Registered Office from State of Maharashtra to State of West Bengal.
- The approval of members for shifting of Registered Office is being sought by Postal Ballot. The Notice of Postal Ballot is being issued separately in accordance with the Companies Act, 2013, read with relevant Rules and LODR.
- Consequent to this Registered Office clause of Memorandum of Association will be amended. |
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