Country Club to raise USD 130 mn
Country Club to raise USD 130 mn
The members of Country Club India, at the 16th annual general meeting (AGM) of the company held on Sep. 29, 2007, decided to raise up to USD 130 million by way of FCCBs / GDRs / ADRs / or other convertible securities.
The members at the same meeting also decided to issue 6,00,000 warrants to the Promoters and outsiders and 1,25,000 equity shares of Rs 10 each to Bennett Coleman and Co. on preferential allotment basis.
Further the members declared the final dividend of 20%, on the equity shares of the company for the financial year 2006-07.
Country Club (India) disclosed a phenomenal jump in net profits for the quarter ended June 2007. During the quarter, net profit rose 4.58 times, to Rs 131.84 million from Rs 28.79 million in the same quarter, last year.
Net sales for the quarter rose 2.67 times, to Rs 569.07 million compared with the corresponding quarter, a year ago.
Shares of the company declined Rs 4.65, or 0.61%, to settle at Rs 753.00. The total volume of shares traded was 14,581 at the BSE. (Monday)
