GANDHI SPECIAL TUBES LTD. - Outcome of Board Meeting

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GANDHI SPECIAL TUBES LTD. - Outcome of Board Meeting

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28 May 2019
Pursuant to the requirements of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors at their Meeting held on Tuesday, May 28, 2019 which commenced at 4.30 p.m. and concluded at 6.35 p.m. inter alia, have approved the following:<BR> <BR> 1. The Audited Financial results for the quarter and year ended March 31, 2019 and Auditors Report thereon. <BR> 2. Statement of Assets and Liabilities for the year ended as on March 31, 2019<BR> 3. Recommendation of a Final Dividend of Rs.9/- for the Financial Year ended March 31, 2019 on Equity Shares of FV Rs. 5/- each subject to the approval by members at the Annual General Meeting.<BR> 4. The Proposal to Buy-back upto 900,000 (Nine Lakh) fully Paid-up Equity Shares of the Company, from the Equity Shareholders of the Company as on a Record Date to be announced later ("Record Date"), for an aggregate amount not exceeding Rs. 49,50,00,000/- (Rupees Forty Nine Crore Fifty Lakh only) (hereinafter referred to as the "Maximum Buyback Size") being 24.94 % of the total Paid-up Equity Capital and Free Reserves of the Company as per the latest Audited Balance Sheet as at March 31, 2019, at a maximum price of Rs. 550/- (Rupees Five Hundred Fifty only) per Equity Share (hereinafter referred to as the "Maximum Buyback Price"). The Buy-back offer is 6.51% of the Paid-up Equity Share Capital of the Company.<BR> 5. Closure of Register of Members of the Company from Saturday, July 13, 2019 to Monday, July 15, 2019 (both days inclusive) for the purpose of Annual General Meeting and payment of final dividend to the members whose names appear in the Register of members as on Friday, July 12, 2019 which will be paid on or before Friday, August 30, 2019.<BR> <BR> <BR> 6. Appointment of Shri D. H. Zaveri, Cost Accountant as Auditor for Cost Accounts, for the year ending on March 31, 2020.<BR> 7. Thirty Fourth Annual General Meeting will be held on Wednesday, July 31, 2019 at 11.00 a.m. at Kanji Khetsey Sabhagriha, Bhartiya Vidya Bhavan, K. M. Munshi Marg, Mumbai 400007<BR>
View all announcements for GANDHI SPECIAL TUBES LTD.	Source: BSE India

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