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Kolkata, July 14

Shareholders of Beeyu Overseas, a loss-making tea and coffee company, has empowered the board though postal ballot to sell off land asset and shift the registered office from Kolkata to Fulhara, a small town in North Dianjpur district of West Bengal. The company has informed the Bombay Stock Exchange that the shareholders have approved the relevant resolutions by way of postal ballot. It has further informed that 40 acres of unutilised land of the company in the Nilgiris d istrict of Tamil Nadu, considered “unproductive and unfit for cultivation”, is proposed to be disposed of either by sale or lease. The promoters, as on March 31,2007 had a total of 31.58 per cent stake in the company, while non-promoters holding was 68.42 per cent. There was no institutional holding in the company. —

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Beeyu shareholders okay land sale

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