Hacked by islam_Bey imhatimi.org

Gitanjali Gems Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 30, 2008, inter alia, to consider the following agenda:

1. To consider, approve and take on record the Audited Financial results of the Company for the year ended March 31, 2008.

2. To recommend payment of dividend to the equity shareholders of the Company for the financial year ended March 31, 2008.

3. To consider various options including consolidation and proposed transfer of Company’s investments for better valuation.

Gitanjali Gems Ltd has informed BSE that the Credit Analysis & Research Ltd (CARE) has assigned ‘CARE A -’ (single A Minus) rating to one of the subsidiaries namely, Gitanjali Exports Corporation Ltd (GECL). This rating is applicable for facilities having tenure of more than one year. Instruments with this rating are considered to offer adequate safety for timely servicing of debt obligations and carry low credit risk.

Further, CARE has assigned ‘PR2+ (PR Two Plus) to GECL. This rating is applicable for facilities having tenure up to one year. Instruments with this rating would have adequate capacity for timely payment of short-term debt obligations.

Gitanjali Gems Ltd has informed BSE that with regard to the incorporation of Wholly Owned Subsidiary as a Special Purpose Vehicle for Special Economic Zone development, Gitanjali Group’s policy towards development of Special Economic Zone, as Company has received various approvals and consents from Central / State Governments, the Company has incorporated “West Bengal SEZ Ltd” as special purpose vehicles for the development activities across the Special Economic Zones for which approvals have been received.

Further the Company has informed that, “West Bengal SEZ Ltd” is a wholly owned subsidiary and the main object interalia includes to set up, implement, purchase, establish and run unit/s to produce, commercia1ize, sales, import, export, distribution of multiple types of goods, etc.

Gitanjali Gems Ltd has informed BSE that the Company agrees to publish its Audited Financial Results for the year ended March 31, 2008 within three months from the end of the last quarter ending March 31, 2008 of the financial year 2007-2008.

In view of the above the Company will not be publish the Unaudited Financial Results for the last quarter ending March 31, 2008.

Gitanjali Gems Ltd has informed BSE that the Company has increased stake in Gili India Ltd. Earlier the Company was holding majority interest in Gili India Ltd and pursuant to this acquisition; it has become a wholly owned subsidiary of the Company.

Further the Company has informed that, Gili India Ltd, a Company incorporated under Companies Act, 1956, having its registered office at Plot No. 68, Part II, Street No. 13, Marol Industrial Estate, MIDC, Andheri (E) Mumbai - 400 093, owns one of the India’s first retail Jewellery brand ‘Gill’. The Company is leading manufacturer of diamond-studded jewellery which is marketed through franchisees all across India and in the Middle East Countries as well as Europe & other Western Countries under the brand name “Gili”.

Gili was accorded ‘Super Brand’ status by the Indian Consumer Superbrands Council, in 2004. It was also featured among the top ten jewellery brands in the country by the GJEPC magazine Solitaire International.

Gitanjali Gems Ltd has informed BSE that the Company has acquired 100% Shares of ‘Modali Jewels Pvt Ltd.’ (MJPL), earlier a joint venture Company. By way of this acquisition, MJPL has become a wholly owned subsidiary of the Company.

The main business of MJPL is to establish and operate chain of showrooms / outlets for selling Gold & Diamond studded jewellery.

Gitanjali Gems Ltd has informed BSE that in continuance of Company’s policy towards strategic acquisition, Company has acquired ‘Trinity Watch Company Pvt Ltd’ through its wholly owned subsidiary Gitanjali Lifestyle Ltd.

Further the Company has informed that, the ‘Trinity Watch Company Pvt Ltd’ is engaged in the business of sale of watches under its registered premium brand ‘Iris’. The Company also distributes various international watch brands under license from various principals.

Gitanjali Gems Ltd has informed BSE that the Company has made foray into the business of providing gold loans, safe deposits vaults through incorporation of its wholly owned subsidiary in the name of “MOHAR JEWELS LTD” having its registered office at ‘Laxmi Tower’, Office No.6, ‘B’ Wing, 1st Floor, Bandra Kurla Complex, Bandra (East), Mumbai ? 400 051.

Further the Company has informed that, the main objects of “MOHAR JEWELS LTD” inter alia includes providing safe deposit vaults and gold loans to individuals, entities or any other person and to do the business of manufacturing, buying, selling, importing, exporting of diamonds and other precious stones etc.

Gitanjali Gems Ltd has informed BSE that in continuance to the Company’s policy towards strategic acquisition, Company has acquired “RENAISSANCE RETAIL VENTURE PVT LTD” (RRVPL) through its wholly owned subsidiary Gitanjali Lifestyle Ltd.

Further the Company has informed that, the RRVPL is engaged in the business of promoting, conducting and managing retail stores, dealing and trading in all sorts of silver, gold, platinum and other diamond studded jewellery. “Lucera” is one of the premium brand owned by RRVPL.

Gitanjali Gems Ltd has informed BSE that the Company has made an allotment of 10 million convertible warrants to Promoter and Promoter Group on preferential basis.

Further the Company has informed that, the 10 million Fully Convertible Warrants of Rs 10/- each have been issued @ Rs 312/- per warrant out of which Rs 31.20/- per warrant being 10% of the issue price of the warrants have been received from all the allottees in accordance with the Preferential Issue Guidelines issued by SEBI.