Religare Enterprises Board recommends dividend
Religare Enterprises Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 26, 2008, inter alia, has transacted the following:
1. Recommended the payment of dividend @ 11% i.e. Rs 1.10 per equity share for the year ended March 31, 2008.
2. Subject to Shareholders and other regulatory approvals (if any), Approved:
- Raising of upto Rs 1075 Crores by Issue of Capital through GDR / ADR / QIP / FCCB and Equity Shares / Warrants to Promoters / Promoter Entities
- Raising of upto Rs 500 Crores through Issue of Redeemable Preference Shares to Non Promoter entities and
- Increase of Authorised Share Capital from Existing Rs 85 Crores to Rs 160 Crores.
3. Approved appointment of Ms. Sunita Naidoo as an Independent Director in place of Mr. Baldev Singh Johal who has resigned as Independent Director.
Tags: Religare Enterprises