Board declares Interim Dividend & approves Buy Back of equity shares

| Updated on February 01, 2018 Published on January 31, 2017

GHCL Ltd has informed BSE that Board of Directors in their meeting held on January 31, 2017, inter alia, has approved the following:

1. Interim Dividend : Interim Dividend of Rs. 1.50/- (Rupee One and Fifty Paise) per equity share for the financial year 2016-17 on the paid-up capital of 10,00,19,286 equity shares of the Company. The payment shall be made on or after February 15, 2017.

2. Buy Back of Shares: Buy Back of the Company’s fully paid-up equity shares of Rs. 10/- each from the Open Market through Stock Exchange route, at a Maximum Buyback Price of Rs. 315/- (Rupees Three Hundred and Fifteen) per Equity Share excluding transaction costs, for an aggregate amount of Rs. 80 (Eighty) Crores.

3. Capex approval: Additional Capex of Rs. 55.84 Crores for Textile division (Yam & Home Textile), which will be used towards (a) Air Jet Spinning project the Yarn division, (b) Replacement of 39 Ring Frame in the Yarn division; and (C) 1.25 MW Solar Power project in Home Textile division.

4. Policies for Business Responsibility Reporting: In line with the requirement of Regulation 34(2)(f) of Listing Regulations, 2015, the Board of directors have approved various Policies.

Grant of Employees Stock Option: Nomination & Remuneration Committee of the Company in its meeting on January 31, 2017 has granted thirty thousand Stock options to Chief Operating Officer - Home Textile Division at the same terms and conditions as disclosed to the stock exchanges on May 19, 2016.

Pdf Link: Board declares Interim Dividend & approves Buy Back of equity shares

Source : BSE - www.bseindia.com

Published on January 31, 2017
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