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| Exchange Disseminated Time | Kitex Garments Ltd has informed BSE that the members at the 19th Annual General Meeting (AGM) of the Company held on May 30, 2011, inter alia, have accorded to the following:
1. Adoption of the Director's Report, the Annual Accounts and the Auditors' Report for the year ended March 31, 2011.
2. Declaration of Dividend for the year ended March 31, 2011 at the rate of 40 percent of the paid up equity share capital of the Company (40 paise per share of face value of Re. 1).
3. Re-appointment of Mr. M. P. Kuriokose as a Director of the Company, liable to retire by rotation.
4. Re-appointment of M/s. Kolath & Co., Chartered Accountants, as Auditors to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting, on remuneration, terms & conditions.
5. To borrow any sum or sums of money, from time to time, notwithstanding that the money or moneys to be borrowed, together with the moneys already borrowed by the Company (apart from temporary loans obtained from the Company's Bankers in the ordinary course of business), will or may, exceed the aggregate of the paid-up capital of the Company and its free reserves, that is to say, reserves not set apart from any specific purpose, provided that the total amounts so borrowed shall not exceed Rs. 200 Crores (Rs. Two hundred crores only)", subject to necessary provisions & approvals. |
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