Aarvee Denims Board approves Interim Dividend

Aarvee Denims & Exports Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 16, 2009, inter alia, has transacted the following:

1. The Board has approved the proposal of payment of an interim dividend on equity shares @ 5% i.e. Rs. 0.50 per equity share for the year 2009-10.

2. Looking into the SEBI Guidelines and Regulations the Board has not approve the issue of 23,40,000 (Twenty Three Lacs Forty Thousand) convertible equity warrants to promoters, their relatives, associates and related entities.