SEL Manufacturing Company To Increase Authorised Equity Share - August 01, 2009

The board of SEL Manufacturing Company has approved increasing the authorised equity share capital to Rs 75 crore from the present authorised equity share capital of Rs 50 crore.

The board has also decided to raise funds for the company by way of issue of securities, including GDRs and / or ADRs convertible into equity shares, FCCBs or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants etc. convertible into equity shares, in one or more tranches, in Indian or Foreign Market as applicable, whether optionally or otherwise or any combination thereof up to an aggregate amount not exceeding Rs 300 crore only.

The board has also approved to issue warrants convertible into equity shares on preferential basis to the promoters / promoter group of the company.

This was approved at the board meeting held on 31 July 2009.

CHL Recommends Final Dividend Of Equity Share - August 01, 2009

The board of CHL has recommended final dividend at the rate of Rs 1.50 per equity share of Rs 10 each of the company (15%) for the financial year 2008-2009. The aggregate dividend recommended by the Board in their meeting held on 31 July 2009 is 30% on the fully paid up equity share capital of the company (including 15% interim dividend) for the financial year 2008-2009.

This was recommended at the board meeting held on 31 July 2009.

Decolight Ceramics To Increase Authorized Equity Share Capital - August 01, 2009

The board of Decolight Ceramics has approved to increase authorized equity share capital of the company up to Rs 80,00,00,000 and to incorporate necessary changes in the memorandum of association of the company.

The board has also approved to raise fund to the tune of Rs 30,00,00,000 by offering, issuing and allotting convertible warrants on preferential basis, and Rs 30,00,00,000 by offering, issuing and allotting on QIP basis and / or by way of GDRs and / or ADR and / or FCCBs.

This was approved at the board meeting held on 31 July 2009.

Sturdy Industries To Issue Of Equity Shares - July 31, 2009

The board of Sturdy Industries has considered about issuing equity shares through employees stock option scheme (ESOS) and considered raising of funds from domestic market through issue of securities to qualified institutional buyers.

The board has also considered the sub division of equity share of Rs 10 each into equity share of Rs 2 each and also considered routes available for raising of funds through issue of securities (ADR / GDR) in the international market for funding the expansion plans of the company viz. setting up of Gas based Power Project of 200 MW capacity, Hydro Power Project, Projects for Drip Irrigation Systems and Aluminium conductors.

The board has also considered convening of extra-ordinary general meeting on 28 August 2009. This was decided at the board meeting held on 31 July 2009.

Aban Offshore Recommends Dividend Of Equity Shares - July 31, 2009

The board of Aban Offshore has recommended dividend at the rate of 180 % on the entire paid up equity share capital (including partly paid equity shares) of the Company (that is Rs 3.60 per equity share for the fully paid equity shares and Rs 1.80 per equity share for partly paid equity shares), dividend at the rate of 8% p.a., at the rate of 9% p.a. and at the rate of 9.25% (prorata) respectively on the non-convertible cumulative redeemable preference equity share capital of the company for the year/period ended 31 March 2009.

This was recommended at the board meeting held on 31 July 2009.

Alok Industries Allotments Of Equity Shares - July 31, 2009

Alok Industries has announced that the company had issued and allotted 1,00,00,000 warrants to Jiwrajka Associates (JAPL) a part of the promoter group, at a price of Rs 102 per warrant. The warrants holders had paid a sum equivalent of 10% of the total consideration as per the terms of the issue and the balance would be payable upon exercise of the conversion option.

The Warrant holders were to be allotted one equity share of the company, of Rs 10 each, on payment of an exercise price of Rs 102 per equity share, on or before 31 July 2009.

The company has announced that they do not wish to exercise the option of conversion of aforesaid warrants into equity shares.

Pursuant to SEBI Guidelines for preferential allotment, the company have thus forfeited 10% warrant subscription money brought in by JAPL at the time of allotment of warrants.

The company made this announcement after the trading hours today, 31 July 2009.

Kaveri Seed Company Board Recommends Dividend Of Equity Share - July 30, 2009

Kaveri Seed Company Limited has informed that the Board of Directors of the Company at its meeting held on July 30, 2009, inter alia, has transacted the following:

1. Recommendation of Dividend for the Financial Year 2008-09: The Board recommended a dividend of 20% (Rs 2/- per equity share of Rs 10/- each) on the equity share capital of the Company for the year 2008-09 subject to approval of members in the General Meeting.

2. Employee Stock Option Scheme - 2008: The equity Shareholders of the Company at the Extraordinary General Meeting of the Company through Postal Ballot held on January 08, 2009 approved the proposal to issue Stock Options to eligible Employees of the Company by earmarking 1,37,000 equity shares for the purpose of Employee Stock Option Plan 2008-09.

Now, the Board of Directors proposed to amend the Exercise Price of ESOS 2008 pursuant to clause 7.4 of the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock purchase Scheme) Guidelines, 1999 to vary the terms & conditions of ESOS 2008 in terms the Exercise Price.

The Exercise Price will be as may be determined by the Board/Compensation Committee from time to time and shall not be less than the par value of the equity share and shall not be more than the market price.

The Board recommends the proposed amendment for approval of equity shareholders at their General Meeting.

GMR Infrastructure Board Approves Of Equity Share Of Stock Split - July 30, 2009

GMR Infrastructure Limited has informed that the Board of Directors of the Company at its meeting held on July 30, 2009, inter alia, has accorded approval for sub-division of all its equity shares of Rs 2/- each into 2 equity shares of Re 1/- each (per equity share), subject to the approval of members of the Company at the forthcoming Annual General Meeting.

Further, the Board of Directors have adjourned the Board meeting for consideration and approval of un-audited financial results of the Company for the quarter ended June 30, 2009 to July 31, 2009.

Softsol India Board Approves Buy-Back Of Equity Shares - July 30, 2009

Softsol India Limited has informed that the Board of Directors of the Company at its meeting held on July 30, 2009, inter alia, has approved the following:

1. Annual General Meeting of the Company for the year 2009 will be held on September 30, 2009.

2. Buyback of the fully paid-up Equity Shares of Rs 10/- each of the Company from Open Market through Stock Exchange Mechanism for an amount not exceeding Rs 7,00,00,000/- (Rupees Seven crores only) to a minimum of 10,00,000 equity shares and a maximum of 14,00,000 equity shares up to a maximum price of Rs 55/- (Rupees Fifty Five only) per equity share in accordance with the provisions of the Articles of Association of the Company, Section 77A, 77AA, 77B and other applicable provisions of the Companies Act, 1956, SEBI (Buyback of Securities) Regulations, 1998 and other applicable regulations, if any.

The above decision was taken to enhance overall equity shareholder value by returning the surplus funds to equity shareholders in an investor friendly manner and to enhance the earnings per equity share of the Company in the future and create long-term shareholder value.

KLG Systel Allotments Of Equity Shares - July 29, 2009

The board of KLG Systel has approved the allotment of 20177 fully paid up equity shares of Rs 10 each at a premium of Rs 109.58 per equity share for cash to employees of the company on exercise of options vested on 12 April 2009 in accordance with KLG employee stock option scheme, 2005.

This was approved at the board meeting held on 29 July 2009.