LOIL gets shareholders nod for hike in FII limit
Rice-exporting company, Lakshmi Overseas Industries Ltd on Friday said it has got shareholders approval for an increase the investment limit by Foreign Institutional Investors (FIIs) upto 49 per cent.
By PTI |
MUMBAI: Rice-exporting company, Lakshmi Overseas Industries Ltd on Friday said it has got shareholders approval for an increase the investment limit by Foreign Institutional Investors (FIIs) upto 49 per cent.
The shareholders at the AGM held recently also approved to increase the Non Resident Indians (NRIs) upto 10 per cent of its paid up equity share capital, Lakshmi Overseas informed the Bombay Stock Exchange.
However, after the increase in the investment limit by FIIs and NRIs the equity shareholding of a single FII in the company should not exceed 10 per cent of the paid up equity share capital of the company.
An interim dividend of 20 per cent as declared on November 16, 2005 and declaration of final dividend of 20 per cent was also confirmed at the AGM.
The shareholders also approved the appointment of Varinder Kumar and Sanjeev Sood as Directors of the company.
Shares of the company were trading at Rs 929.10, down 1.09 per cent at the BSE.
The shareholders at the AGM held recently also approved to increase the Non Resident Indians (NRIs) upto 10 per cent of its paid up equity share capital, Lakshmi Overseas informed the Bombay Stock Exchange.
However, after the increase in the investment limit by FIIs and NRIs the equity shareholding of a single FII in the company should not exceed 10 per cent of the paid up equity share capital of the company.
An interim dividend of 20 per cent as declared on November 16, 2005 and declaration of final dividend of 20 per cent was also confirmed at the AGM.
The shareholders also approved the appointment of Varinder Kumar and Sanjeev Sood as Directors of the company.
Shares of the company were trading at Rs 929.10, down 1.09 per cent at the BSE.
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