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| Exchange Disseminated Time | Indo Tech Transformers Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 12, 2009, inter alia, have accorded to the following:
1. Sale of the Company's immovable property situated at Old No.32 (New No.6] Sardar Patel Road [formerly Elliots Beach Road] Guindy, Chennai 600 032 for a consideration as may be decided by the Board of Directors / Committee thereof.
2. Subject to sale of land as above, to declare and distribute a second Interim Dividend out of the profits of the Company to the extent of the net cash inflow arising out of the sale of the surplus asset as given in (A) above subject to the applicable laws, taxes and receipt of the sale proceeds from the sale of the above asset. |
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