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Haldyn Glass Gujarat declares dividend

Haldyn Glass Gujarat Ltd (HGGL) has declared a 15% dividend for fiscal year 2004-05 on its total paid up capital. In addition, the company“s annual general meeting (AGM) also ratified a 14% dividend …

Haldyn Glass Gujarat Ltd (HGGL) has declared a 15% dividend for fiscal year 2004-05 on its total paid up capital. In addition, the company“s annual general meeting (AGM) also ratified a 14% dividend on its 14% cumulative redeemable preference shares, which has already been paid, the Vadodara-based company informed the Bombay Stock Exchange on 4 November 2005. The AGM authorised the board to invest up to INR 2.5 million in the share capital of a new company which will be a wholly owned subsidiary. The re-appointment of N. D. Shetty as Managing Director of the company for 5 years from 1 March 2005 was approved at the meeting, as was the delisting of the company“s shares from Vadodara Stock Exchange. HGGL, an associate company in the Haldyn group, is one of the major players in the clear glass container manufacturing segment in India, serving the liquor, cosmetic, food and pharmaceutical industries.

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