Saturday, 28 August 2010

Sakuma & Network 18- Updates

My earlier post about Sakuma Exports and Network 18 is here.

Sakuma Exports declared a dividend of Rs 5 /- for the year 2009-10 on the preference shares. Read here
I believe the company is on its way to redeem the preference shares in February 2011 or may be earlier if it wishes to.

In Network 18, my worst fears turned out to be true. The company came out with a postal ballot and sought to waive the voting powers on the preference shares which would have accrued since the dividend has remained unpaid on the preference shares for 2 years. The Network 18 group is never short of aces up its sleeves when it comes to dealing with the minority shareholders.

You can read the postal ballot here.