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| Exchange Disseminated Time | Gujarat Reclaim & Rubber Products Ltd has informed BSE that the members at the 37th Annual General Meeting (AGM) of the Company held on August 25, 2011, inter alia, have accorded to the following:
1. Adopted the Directors’ Report, Profit and Loss account, of the Company for the year ended March 31, 2011 and the Balance Sheet as on that date and Cash flow Statement and the Auditor’s Report thereon.
2. Declared a final dividend at the rate of 160% (Rs. 16 per share), for the year ended March 31, 2011, in respect of 1,333,333 equity shares of Rs.10/- each fully paid up, absorbing Rs. 213.33 lacs, (subject to such increase or decrease due to rounding off of this amount as necessary pursuant to provisions of the Companies Act, 1956).
3. Re-appointed Mr. Bhagwandas T. Doshi, as Director of the Company.
4. Re-appointed Mr. Atul Desai, as Director of the Company.
5. Re-appointed M/s. A. B. Modi & Associates, Chartered Accountants, Mumbai, as Auditors of the Company to hold office from the conclusion of this meeting upto the conclusion of the next Annual General Meeting of the Company on such remuneration as may be mutually agreed between the Vice Chairman & Managing Director of the Company and the said Auditors.
6. Appointed Mr. Rajeev M. Pandia, as a Director of the Company, liable to retire by rotation.
7. To pay to the Directors of the Company or some or any of them (other than the Managing Director, Executive Director and the whole time Directors, if any), in addition to the sitting fees for attending the meetings of the Board or committees thereof, a commission of an amount not exceeding the limit of 1% of the net profits of the Company per annum in the aggregate as specified in the first proviso to Section 309(4) of the Companies Act, 1956 for a period of 5 years from the financial year 2011-12, in such amounts or proportions and in such manner and in all respects as may be decided by the Board of Directors as it may deem fit. |
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