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| Exchange Disseminated Time | Sicagen India Ltd has informed BSE that the members at the 7th Annual General Meeting (AGM) of the Company held on July 30, 2011, inter alia, have approved the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2011 and the Profit and Loss Account for the year ended on that date together with the Directors’ Report and Auditors’ Report thereon.
2. Declaration of a dividend at the rate of 10% (Re. 1/- per equity shares) amounting to Rs. 3,95,71,684.00 for the year 2010-11.
3. Appointment of Mr. B. Narendran, as Director of the Company, liable to retire by rotation.
4. Re-appointment of M/s. CNGSN & Associates, Chartered Accountants, Chennai as Statutory Auditors of the Company for the current financial year to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting, on remuneration, terms & conditions.
5. To acquire by way of subscription, purchase or otherwise the shares/securities of M/s. Wilson Cables Private Ltd, Singapore for a total consideration not exceeding Rs. 50 Crores (Rupees Fifty Crores Only) over and above the aggregate of existing loans, investments so far made and the amounts for which guarantee or security given or provided if any by the Company including the previous loans, investments made and the amounts for which guarantees or securities given or provided by the transferor company viz., Sical Logistics Ltd and having been transferred to and/or vested with the Company under the earlier Scheme of Arrangement (Demerger) as sanctioned by the Hon’bte High Court of Judicature at Madras vide its order dated December 20, 2007. |
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