CHEMBOND CHEMICALS LTD. - Board recommends Dividend

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CHEMBOND CHEMICALS LTD. - Board recommends Dividend

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22 May 2015
Chembond Chemicals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 21, 2015, inter alia, has transacted the following business:<BR><BR>1. Recommended Dividend of Rs. 3 (Rupees Three) per equity share, subject to the approval of members in their Annual General Meeting and which will be paid after the approval is obtained in accordance with the Companies Act, 2013.<BR><BR>2. Decided to convene and hold Annual General Meetng of the Company on August 08, 2015.<BR><BR>3. Appointed Dr. Prakash Trivedi as Additional Independent Director on the Board of Directors of the Company.<BR><BR>4. Considered and approved the draft Share Purchase Agreement in respect of sale of its entire 49% stake in the joint venture Henkel Chembond Surface Technologies Limited to Henkel Adhesives Technologies India Private Limited ("Purchaser), the Indian associate company of joint venture partner Henket AG & Co. KGaA, Germany, for a consideration of Rs. 180 crore, subject to adjustment for cash and debt at closing, and further subject to compliance of conditions mentioned therein and to such approvals as may be required. The Company will be continuing the Toll Manufacturing arrangement with Henkel Chembond Surface Technologies Limted for another period of 3 years as per the Toll Manufacturing Agreement.<BR><BR>5. Authorised directors to execute the Share Purchase Agreement and other related and anciliary agreements / contracts in this regard.
View all announcements for CHEMBOND CHEMICALS LTD.	Source: BSE India

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