The Board of Directors at their meeting held on October 29, 2004 declared an interim equity dividend of Rs. 3.50 per share to the equity shareholders of the Company.
October 25, 2004
Interim dividend, if declared by the Board of Directors at their meeting to be held on October 29, 2004, will be paid to the shareholders on or after November 10, 2004.
October 20, 2004
November 4, 2004 fixed as record date for ascertaining shareholders eligibility for recieving interim dividend if declared by the Board of Directors.
October 18, 2004
The Board of Directors to meet on Friday, October 29, 2004, to consider, inter alia, the following:
Unaudited financial results (provisional) for the second quarter and half year ended September 30, 2004
Declaration of Interim Dividend on the equity shares of the company.
September 14, 2004
The drill barge ‘Badrinath' which was chartered to ONGC through GE Shipping's wholly owned subsidiary Deep Water Services (India) Ltd. has resumed operations.
July 22, 2004
12,960 equity shares alloted to HRS Insight Financial Intermediaries Pvt. Ltd. from the abeyance quota of Rights Issue 1992 and 1994, pursuant to order of Special Court (Trial of Offence relating to transactions in Secuirities) Act, 1992.
July 20, 2004
The Board of Directors to meet on July 30, 2004 to consider inter alia declaration of interim dividend on 10.5% Cumulative Redeemable Non Convertible Preference Shares of Rs. 20 crores.
July 14, 2004
An interim dividend of Rs. 1.98 crores (inclusive of tax on dividend) to be paid to Preference Shareholders on July 21, 2004. This is for the period April 1, 2004 to July 21, 2004 (date of redemption).
July 13, 2004
The Board of Directors to meet on Friday, July 30, 2004, to consider, inter alia, the unaudited financial results (provisional) for the first quarter ended June 30, 2004.
June 18, 2004
GE Shipping increased its stake in P&O Travels India Ltd. (POTIL)
GE Shipping acquired 13,52,350 equity shares representing 38.64% of paid up capital of P&O Travels India Ltd. (POTIL). This has increased GE Shipping's stake in POTIL to 63.64%, making POTIL a subsidiary of GE Shipping.
April 19, 2004
Board of Directors to meet on Friday, April 30, 2004 to consider inter alia:
Adoption of Q4 FY2003-04 and FY 2003-04, ended March 31, 2004, results
Recomend dividend on equity shares (if any)
Fix the dates for closure of Register of Members and Share Transfer Books.
Record Date
May 14 2004 is fixed as the Record Date for taking record of the Debenture holders for payment of interest on 10.25% Secured Redeemable Non Convertible Debentures of Rs. 50 lakh each for the period ending May 25, 2004 and redemption of series III of above debentures.
March 31, 2004
Global Depository Receipt
As on March 31st 2004, 356894 GDR were outstanding.
Conversion Under Two Way Fungibility of GDRs
In 1994, the Company had issued 6.27mn GDRs with an entitlement to convert into 5 equity shares for each GDR issued.
After RBI's notification dated 02/03/01 permitting two way fungibility of GDRs, the Company converted 20,700 equity shares into 4,140 GDRs.
This however, in no manner requires issue of additional share capital by the Company.
Second Buy Back
The company is undertaking a second buy back programme for which an amount of Rs. 1,000 million has been allocated. The buy back will be conducted at a price not exceeding Rs. 42 per share from the open market through the stock exchange. The buy back decision was taken in the Board of Directors' meeting on May 3, 2001 and later approved by the shareholders in the Annual General Meeting on July 26, 2001. Under the ongoing scheme, the company has bought back 2,55,94,168 shares up to June 27, 2002.
The first buy back programme, which was initiated in December 2000, led to fall in paid-up equity share capital to Rs. 2,159 million from Rs. 2,588 million. An amount of Rs. 1,500 million was allocated towards this and shares were purchased from open market at an average price of around Rs. 36 per share.
Preference Shares
During the financial year ended 31st March, 2002, GE Shipping raised 10.5% preference shares amounting to Rs. 750 million by private placement. These shares are due for redemption in 48 months with an option to GE Shipping to redeem them after 30 months from the deemed date of allotment.
January 30, 2004
The Board of Directors at their meeting held on January 30, 2004:
Declared an interim equity dividend of Rs. 2.50 per share to the equity shareholders of the Company, which will be paid to the equity shareholders by February 26, 2004
Fixed February 16, 2004 as record date for the purpose of ascertaining the shareholders eligible for receiving the interim dividend.
January 23, 2004
Board to meet on January 30, 2004 to consider declaration of Interim dividend.
January 20, 2004
The Board of Directors to meet on Friday, January 30, 2004, to consider, inter alia, the unaudited financial results (provisional) for the third quarter ended December 30, 2003.
