Panoramic Universal Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 25, 2011, inter alia, has considered the following:1. The Board recommended a dividend of Re. 0.50/- per share (i.e. 10%) on 7,77,45,000 equity shares of Rs.5/- each aggregating to Fully Paid-up Equity Share Capital of Rs. 38,87,25,000/- for the year ended March 31, 2011.2. The Board recommended a dividend of Re. 0.35/- per share (i.e. 7%) on 10,00,00,000 preference shares of Rs.5/- each aggregating to Paid-up Preference Share Capital of Rs.50,00,00,000/- for the year ended March 31, 2011.3. The Board proposed the appointment of Mr. Arun Tari as the Managing Director of the Company with effect from December 01, 2011, subject to the approval of Shareholders at the ensuing Annual General Meeting.4. The Board proposed a payment of commission not exceeding 1% of the net profits to the Non- Executive Director/s of the Company, subject to the approval oF Shareholders at the ensuing Annual General Meeting.5. The Board has given its consent for commencement of business of generating and distributing power especially wind energy which is already provided in the Other Objects clause of the Memorandum of Association of the Company subject to the approval of the members at the ensuing Annual General Meeting.Source : BSE
