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| Exchange Disseminated Time | Panama Petrochem Ltd has informed BSE that the members at the 28th Annual General Meeting (AGM) of the Company held on September 25, 2010, inter alia, have approved the following:
1. Adoption of the Annual Accounts of the Company for the year ended March 31, 2010, together with the Reports of the Auditors and Directors thereon.
2. Declaration of Dividend @ 50% i.e. Rs. 5/- per share.
3. Re-appointment of Mr Amirali E Rayani & Mr Samir A Rayani, director retiring by rotation.
4. Appointment of M/s. S. R. Batliboi & Co., Chartered Accountants, Mumbai as the Statutory Auditors of the Company, by the members to hold the office
from the conclusion of this meeting until the conclusion of next Annual General Meeting.
5. Appointment of Mr Moiz H Motiwala as Ordinary Director of the Company.
6. Increase in remuneration of Mr Amirali E Rayani, Chairman of the Company.
7. Increase in remuneration of Mr Amin A Rayani, Managing Director & CEO of the Company.
8. Increase in remuneration of Mr Samir A Rayani, Whole Time Director of the Company.
9. Increase in Authorised Share Capital of the Company form Rs. 13.16 crores to Rs. 25 crores.
10. Issue of Securities by way of ADR / GDR / QIP not exceeding US $ 20 mn was unanimously passed by the members of the Company. |
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