Ahlcon Parenterals (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 13, 2014, inter alia, has considered and approved as follows:
1. a - During the year ended March 31, 2014, Preference shareholders have exercised the call / put option and accordingly consent of the Board was accorded and preference shares of Rs. 90 lacs were redeemed, out of the profits of the Company.
b - Company has paid preference dividend of Rs. 3,94,882/- (Exclusive of tax) during the quarter ended March 31, 2014. Aggregate preference dividend paid during year ending March 31, 2014 amounted to Rs. 9,34,882/- (Exclusive of tax).
2. During the year the Company has initiated programme for expansion of capacities, at its existing Bhiwadi plant in Rajasthan, the estimated cost of which is approximately Rs. 190 Crores, to be met through debts / internal accruals, and is expected to commence commercial production in quarter ended December 2014.
3. The board of directors, on November, 29, 2013 and shareholders of the Company on February 10, 2014 (Special Resolution passed through postal ballot) have approved the delisting of equity shares of the Company (subject to receipt of all regulatory approval) from the stock exchanges on which the equity shares of the Company are presently listed i.e. BSE Limited (?BSE?), Delhi Stock Exchange Limited (?DSE?), the Calcutta Stock Exchange Limited ('CSE'), and Jaipur Stock Exchange Limited (?JSE?) (collectively 'Stock Exchanges') in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009.
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