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| Exchange Disseminated Time 11/05/2016 18:20:08 | RSWM Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 11, 2016, inter alia:
1. The Board of Directors has recommended Preference Dividend @ 12% per annum i.e. Rs. 0.75 per Optionally Convertible Redeemable Preference Share on pro-rata basis from the date of allotment i.e. May 30, 2015 amounting to Rs. 103.16 Lacs (exclusive of dividend distribution tax) which shall be paid within 30 days from the conclusion of the Annual General Meeting, subject to the approval of the Shareholders of the Company.
2. The Board of Directors has recommended 125% i.e. Rs. 12.50 per share dividend on Equity Shares amounting to Rs. 2893.59 Lacs for the financial year 2015-16 (exclusive of dividend distribution tax) which shall be paid within 30 days from the conclusion of the Annual General Meeting, subject to the approval of the Shareholders of the Company.
Further, the Board of Directors of the Company, keeping in view the delays in receipt of approvals for listing of Optionally Convertible Redeemable Preference Shares (OCRPS) from the Regulatory Bodies, has decided that option to convert OCRPS into Equity Shares of the Company would be available upto September 30, 2016, on which date all valid requests received would be considered for conversion in the first meeting to be held thereafter. The OCRPS holders shall be informed about procedure for exercising conversion option separately.
Also note that Shri Deepak Jain has been co-opted on the Board as an Additional Director (Independent) by the Board of Directors in their meeting held on May 11, 2016
The meeting of the Board of Directors commenced at 1:30 P.M and concluded at 5:30 P.M. |
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