Energy Development Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 10, 2008, inter alia, have recommended payment of Dividend @ 10% on the paid-up share capital of the Company (Rs 1/- per equity share of Rs 10/- each) for the financial year 2007-08 (subject to approval of members at the ensuing Annual General Meeting).
Energy Development Company Ltd has informed BSE that the meeting of the Board of Directors of the Company which is scheduled to be held on June 09, 2008 is adjourned and the agenda for adoption of Annual Accounts of the Company for the year ended on March 31, 2008 and recommending Dividend to the shareholders will be considered in the adjourned meeting to be held on June 10, 2008.
Energy Development Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 09, 2008, inter alia, to consider the following:
1. Annual Accounts of the Company for the year ended on March 31, 2008.
2. Recommending Dividend to the shareholders.
Energy Development Company Ltd has informed BSE that the Company instead of publishing the Un-audited Financial Results for the last quarter of the financial year ended on March 31, 2008, would publish the Audited Results for the year ended on March 31, 2008 within a period of three months from the end of the last quarter.
Energy Development Company Ltd has informed BSE that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:
“Attention is invited to the Note 3 and 4 of the statement regarding non compliance of Accounting Standard - 22, ‘Accounting for Taxes on Income’ with regard to recognition of deferred tax and Accounting Standard - 15, ‘Employee’s Benefit’ respectively. The Auditors are unable to ascertain and state the impact of the same on the various figures and the amount of profit given in the statement.”