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Gangotri Textiles fixes May 5 for interim divided decision

Apr '06
Yarn to finished garments company Gangotri Textiles Ltd has set Friday 5th day of May 2006 as the Record Date for determining the members who will be eligible for Payment of 15 percent Interim Dividend declared for the financial year ended 31.03.2006.

For reservation of 10 percent of the proposed Public Issue (Rs.550 lakhs) to the retail Shareholders of the Company, 5th May 2006 has been fixed as the specified date. Accordingly dividend will be paid to, and eligibility to apply under the reservation in the proposed Public Issue is fixed for, those members whose names appear in the Register of Members as on 05.05.2006

The company has received SEBI approval for its follow on Public Issue of Equity Shares for Rs.55 crores and the issue opening date will be finalized in consultation with the Merchant Bankers.

The GTL's Equity Shares are listed in National Stock Exchange w.e.f 07.04.06 and the company's symbol with NSE is “GANGOTRI”

The Board of Directors of the Company at their meeting held on March 24, 2006, has declared an Interim Equity Dividend @ 15 percent on the expanded capital arising out of the Bonus Share @ 1:1 (Dividend of 0.75 paise per share of Rs 5/- each). The Record date will be fixed shortly.

A meeting of the Board of Directors of the Company will be held on March 24, 2006, inter alia, to consider recommendation of interim dividend for the financial year ending March 31, 2006.

Gangotri executed Rs.257 croresTerm Loan Agreement for its expansion & Integration Project through Consortium of Banks today (10.03.06) at Coimbatore.

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