Board declares Interim Dividend & approves Buy Back of equity shares

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 -

Published on January 31, 2017


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