Celestial Labs Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 14, 2008, inter alia, has transacted the following:
1. Recommended a dividend of 10% (ten percent only) on the paid-up share capital of Company subject to Approval of Members in Annual General Meeting.
2. Approved an amount equivalent to Rupees 817.5 lakhs equity shares to promoters and promoters group on preferential basis in lieu IPR being transferred to the Company, as recommendation by IPR Attorney and technical and financial evaluation by APTDC and Merchant Banker, the same was also approved by a committee of Independent Directors of the Company at its Meeting held on July 14, 2008, subject to Approval of Members and SEBIs preferential issue guidelines. |
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