Syndicate Bank has informed that the members at the 9th Annual General Meeting (AGM) of the Bank held on June 23, 2008, inter alia, have transacted the following:
1. Adoption of the Balance Sheet of the Bank as at March 31, 2008, Profit and Loss Account of the Bank for the year ended March 31, 2008, the Report of the Board of Directors on the working and activities of the Bank for the period covered by the accounts and Auditors Report on the Balance Sheet and accounts.
2. Pursuant to the recommendations of the Board of Directors, Final Dividend of 13% for the year 2007-08 in addition to the Interim Dividend of 15% declared and paid for the year, aggregating to a total dividend of 28% declared out of the current profits of the Bank for the year ended March 31, 2008.
3. Authority to the Board to create, offer, issue and allot not exceeding 8,00,00,000 (Eight Crore) Equity Shares (Equity Shares) of face value of Rs 10/- each, in one or more tranches by way of Qualified Institutional Placement (QIP) to the Public Sector Enterprises and Mutual Funds who are Qualified Institutional Buyers (QIB) in terms of Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (SEBI DIP Guidelines) whether or not such investors are existing members of the Bank, at a price not less than the price as determined in accordance with relevant provisions of SEBI DIP Guidelines and on such terms and conditions as may be deemed appropriate by the Board at its absolute discretion and wherever necessary in consultation with Lead Managers, in accordance with the applicable laws, rules, regulations and guidelines prevailing in this regard, subject to necessary provisions & approvals.
1. Adoption of the Balance Sheet of the Bank as at March 31, 2008, Profit and Loss Account of the Bank for the year ended March 31, 2008, the Report of the Board of Directors on the working and activities of the Bank for the period covered by the accounts and Auditors Report on the Balance Sheet and accounts.
2. Pursuant to the recommendations of the Board of Directors, Final Dividend of 13% for the year 2007-08 in addition to the Interim Dividend of 15% declared and paid for the year, aggregating to a total dividend of 28% declared out of the current profits of the Bank for the year ended March 31, 2008.
3. Authority to the Board to create, offer, issue and allot not exceeding 8,00,00,000 (Eight Crore) Equity Shares (Equity Shares) of face value of Rs 10/- each, in one or more tranches by way of Qualified Institutional Placement (QIP) to the Public Sector Enterprises and Mutual Funds who are Qualified Institutional Buyers (QIB) in terms of Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (SEBI DIP Guidelines) whether or not such investors are existing members of the Bank, at a price not less than the price as determined in accordance with relevant provisions of SEBI DIP Guidelines and on such terms and conditions as may be deemed appropriate by the Board at its absolute discretion and wherever necessary in consultation with Lead Managers, in accordance with the applicable laws, rules, regulations and guidelines prevailing in this regard, subject to necessary provisions & approvals.
No comments:
Post a Comment