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| Exchange Disseminated Time | Asian Hotels (East) Ltd has informed BSE that the members at the 3rd Annual General Meeting (AGM) of the Company held on September 29, 2010, inter alia, have approved the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2010 and Profit & Loss Account of the Company for the nine-month period ended on that date and the Reports of Board of Directors and Auditors thereon.
2. Confirmation of interim dividend paid at the rate of 1%, to the holders of 1% Cumulative Redeemable Non Preference Shares for the period commencing from September 01, 2009 to March 31, 2010.
3. Declaration of dividend, to be paid at the rate of 1%, to the holders of 1% Fully Convertible Preference Shares for the period commencing from November 01, 2009 to March 31, 2010.
4. Declaration of dividend, to be paid at the rate of 30% i.e. Rs. 3/- per share to the equity shareholders for the period commencing from July 01, 2009 to March 31, 2010.
5. Re-appointment of Mr. R S Saraf, as Director of the Company, liable to retire by rotation.
6. Appointment of M/s. S S Kothari Mehta & Co., Chartered Accountants as Auditors of the Company to hold office from the conclusion of this AGM until the conclusion of next AGM, at a remuneration to be decided by the Board of Directors.
7. Appointment of Mr. S. S. Bhandari as Director of the Company.
8. Appointment of Mr. Padam K Khaitan as Director of the Company.
9. Appointment of Mr. R. S Jhawar as Director of the Company.
10. Appointment and Remuneration of Mr. Umesh Saraf as Managing Director to be designated as Joint Managing Director of the Company.
11. Appointment and Remuneration of Mr. Arun K Saraf as Joint Managing Director of the Company.
12. Empowering the Board for contribution under Section 293(1)(e) up to an amount not exceeding Rs.2 (two) crores per annum. |
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