Board recommends Dividend

| Updated on May 29, 2014 Published on May 29, 2014

Speciality Restaurants Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 28, 2014, inter alia, have considered and decided the following matters:

1. Approved extension of the tenure of service of the Company Secretary for a period of two years.

2. Recommended a dividend of Re. 1.00 (Rupee One only) per equity share of the Company Rs. 10 each (10%) for the financial year 2013-14 which is subject to the approval of the shareholders in their Annual General Meeting.

3. Approved the constitution of a Corporate Social Responsibility Committee, comprising of the following members, namely, Mr. Jyotin Mehta, Mr. Dushyant Mehta and Mrs. Suchhanda Chatterjee.

4. Reconstituted the Board Governance and Remuneration Committee as the Nomination and Remuneration Committee.

5. Approved payment of commission to the Non-Executive Directors of the Company for the year ended March 31, 2014.

6. Approved the proposal for acquisition of 51% stake in a bakery Company namely, Love Sugar and Dough Private Limited for Rs. 75.00 lacs (Rupees Seventy Five lacs only) by way of purchase of shares from the existing shareholders and execution of share purchase and shareholders’ agreement subject to receipt of statutory approval, if any.

7. Matters relating to re-appointment of independent directors, appointment of statutory auditors of the Company, amongst other matters to be considered for approval at the Annual General Meeting.

Source : BSE - >www.bseindia.com

Published on May 29, 2014
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