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| Exchange Disseminated Time | Prestige Estates Projects Ltd has informed BSE that the members at the 14th Annual General Meeting (AGM) of the Company held on July 28, 2011, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet of the Company as at March 31, 2011 and the Profit and Loss Account for the period ended on that date, together with the Reports of Board of Directors and Auditors thereon.
2. Dividend at the rate of 12% (Re. 1.20/- per share of Rs. 10/ - each) on Equity Shares for the year ended on March 31, 2011 was declared to the Equity shareholders of the Company.
3. Mr. B. C. Koshy, Director, who was liable to retire by rotation and being eligible offered himself for re-appointment, was re- appointed as Director of the Company.
4. Mr. Jagdeesh K. Reddy, Director, who was liable to retire by rotation and being eligible offered himself for re-appointment, was re-appointed as Director of the Company.
5. Re-appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants, Bangalore, as Statutory Auditors from the conclusion of the this Annual General Meeting until the conclusion of next Annual General Meeting of the Company on remuneration, terms & conditions.
6. Mr. Noaman Razack who was appointed as Additional Director of the Company to hold office until the date of the Annual General Meeting was appointed as a Director of the Company liable to retire by rotation.
7. Mr. Noaman Razack, Director was appointed as a whole time Director of the Company for a period of 5 years with effect from the date of Annual General Meeting, on remuneration, terms & conditions.
8. The Board of Directors of the Company were authorised to vary, alter, modify, revise or delete, as the Board may deem fit in the best interest of the Company, the utilization of the proceeds of the Initial Public Offering through 100% book building process contained in the Prospectus dated October 19, 2010 including the authorization to take up any new activity / expenses / financial commitment apart from or instead of those mentioned in the Prospectus and to change deployment of funds, taking into consideration the business prospects and funding requirements of the Company. |
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