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| Exchange Disseminated Time 27/05/2016 19:39:15 | Patel Integrated Logistics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 27, 2016, inter alia:
1. Recommended the dividend @ Re. 0.50/- per equity share i.e. 5% on equity share capital of the Company for the year ended March 31, 2016, subject to approval by the shareholders at the ensuing Annual General Meeting; and
2. Considered and approved delisting of Equity Shares of the Company in terms of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 from Ahmedabad Stock Exchange Ltd and The Calcutta Stock Exchange Association Ltd.
3. Considered and approved entering into an agreement with Pivot Logistics LLC, a Saudi Arabian company, to share know-how, manpower of the Company with Pivot Logistics and to set up and manage the end-to-end operations in the gulf region, subject to necessary compliances. The Company in consideration of the assistance and services to be provided to Pivot Logistics LLC will be entitled to sweat equity shares of Pivot Logistics LLC and there is no fresh capital infusion in the venture by the Company. |
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