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Our Bureau

Mumbai, June 28

Ricoh India will redeem prematurely the 5-lakh, 7.5-per cent cumulative preference shares of Rs 100 each on or before September 30, its board of directors decided today.

“In view of the premature redemption of preference shares by the company, the preference shareholders have intimated/confirmed to the company to waive off the arrears of fixed cumulative dividend (past and current years) payable by the company,” said Ricoh in a statement to the stock exchanges on Thursday.

The board also accepted the resignation of Mr. K Yoshida as Director with immediate effect. Mr Kazuo Togashi was appointed as Additional Director and also as Chairman of the board.

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