Board recommends Dividend

| Updated on August 18, 2011 Published on August 18, 2011

GTL Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 18, 2011, inter alia, has:

1. Considered and approved the draft of the debtor - creditors agreement under the scheme of Corporate Debt Restructuring (CDR). The Board has also noted to forward the proposal to CDR cell for the purpose of the debt restructuring.

2. Recommended a dividend @ 10% (Rs. 1.00 per share) on the Equity Share Capital of the Company for the fifteen months period ended on June 30, 2011 subject to necessary approvals from lenders / other authorities; and

3. Redesignated Mr. Manoj G. Tirodkar as the Chairman & Managing Director of the Company with effect from August 18, 2011.

Source : BSE - >www.bseindia.com

Published on August 18, 2011
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