Loyal Textile Mills Ltd has informed that the Board of Directors of the Company at its meeting held on May 23, 2007, inter alia, has approved the following:
1) Recommended a dividend of Rs 3.90 (39%) per equity share of Rs 10/- each for the financial year 2006-07.
2) Mr. Manikam Ramaswami has been re-appointed as Chairman & Managing Director for a further period of five years with effect from June 01, 2008 subject to the approval of the shareholders at the forthcoming Annual General Meeting.
3) Mr. Sreedhar Subramanian has been inducted in to the Board as an Additional Director.
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