The Great Eastern Shipping Company Limited Recommends Final Dividend for the Financial Year Ended March 31, 2019; Approves Issue of Non-Convertible Debentures; Appoints Raju Shukla and Ranjit Vasant Pandit as Additional and Independent Directors on the Board, Effective June 1, 2019
May 06, 2019 at 09:08 am EDT
Share
The board of The Great Eastern Shipping Company Limited recommended final dividend of INR 5.40 per share for the financial year ended March 31, 2019, at its meeting held on May 6, 2019. The final dividend will be paid after approval of shareholders at the upcoming Annual General Meeting.
The board also considered and approve the issue of non-convertible debentures upto an amount no exceeding INR 10,000 million by way of private placement during the year.
The board approved the appointment of Raju Shukla and Ranjit Vasant Pandit as Additional and Independent Directors on the Board, effective June 1, 2019. Mr. Raju Shukla is the Executive Chairman and Founder of Cleantech Renewable Assets Pte Ltd. (Cleantech Solar Group). Mr. Shukla also serves as the Chairman & Founder of Ariana Investment Management, a fund management company regulated by Monetary Authority of Singapore. He is also Non-Executive Chairman of Ocean Dial Asset Management. Mr. Pandit serves as a Non-Executive Director of all of Reliance Industries Ltd. Consumer Businesses including Reliance Jio lnfocomm Ltd., Reliance Retail Ventures Ltd, Genesis Colours Limited, BKC Mall Management Private Limited; CEAT Ltd. and ABP Private Ltd. He is currently an investor and a philanthropist with a controlling interest in several manufacturing businesses.
The Great Eastern Shipping Company Limited is an India-based private sector shipping company. The Company provides for transportation of crude oil, petroleum products, gas and dry bulk commodities. The Company is engaged in shipping business segment. The Company customers include oil companies, refineries, manufacturers, miners and producers, among others. Its crude oil carriers include JAG LOK, JAG LALIT, JAG LEENA, JAG LAKSHYA, JAG LEELA and JAG LAXMI. The Company's product carriers include JAG LOKESH, JAG LARA, JAG AABHA, JAG AANCHAL, JAG AMISHA, JAG APARNA, JAG PANKHI, JAG PAHEL, JAG PRABHA, JAG PRANAM, JAG PRANAV, JAG POOJA, Jag Parth and JAG PADMA. Its LPG carriers include JAG VIKRAM, JAG VISHNU, JAG VASANT and JAG VIRAAT. Its Dry Bulk Carriers include JAG ANAND, JAG ALAIA, JAG AARATI and JAG ADITI. Its subsidiaries include The Greatship (Singapore) Pte. Ltd., The Great Eastern Chartering LLC (FZC), Greatship (India) Limited, Great Eastern CSR Foundation and others.
The Great Eastern Shipping Company Limited Recommends Final Dividend for the Financial Year Ended March 31, 2019; Approves Issue of Non-Convertible Debentures; Appoints Raju Shukla and Ranjit Vasant Pandit as Additional and Independent Directors on the Board, Effective June 1, 2019