August 27, 2011

 

 

Increase in shareholding in Goldiam Jewels Limited, a subsidiary of the Company

 

The Company has acquired the shares of some of the other shareholders of Goldiam Jewels Limited, a subsidiary of the Company and consequently, the Company’s stake in the subsidiary has increased from 50.55% to 99.5%.

 

 

February 11, 2011

 

 

Declaration of Interim Dividend

 

The Board of Directors of the Company at its meeting held on 11th February, 2011, inter alia, has declared an interim dividend of Re.1/- per equity share of Rs.10/- each fully paid-up (i.e. 10%) for the financial year 2010-2011.

 

Further, pursuant to Section 154 of the Companies Act, 1956 and Clause 16 of the Listing Agreement, the Board has fixed “Wednesday, 23rd February, 2011” as the Record Date for ascertaining the shareholders eligible for receipt of interim dividend.

 

The interim dividend will be paid/ Dividend Warrants will be dispatched to the eligible shareholders of the Company on and from 3rd March, 2011.

 

 

November 29, 2010

 

 

Additional Export order worth US$ 1 million (approximately Rs.4.5 crores) for diamond studded jewellery

 

In addition to the single export order worth US$ 6 million (approximately Rs.27 crores) for diamond studded jewellery as intimated on November 02, 2010, Goldiam International Limited has secured further export order worth US$ 1 million (approximately Rs.4.5 crores) for diamond studded jewellery making the total export order worth US$ 7 million (approximately Rs.31.5 crores) to be exported to one of its major customers in the United States of America in December, 2010 and January, 2011.

 

 

November 2, 2010

 

 

Single Export order worth US$ 6 million (approximately Rs.27 crores) for diamond studded jewellery

 

Goldiam International Limited has secured a single export order worth US$ 6 million       (approximately Rs.27 crores) for diamond studded jewellery, the largest single order in the Company’s history, to be exported in December, 2010 and January, 2011.

 

This order has been procured from one of its major customers in the United States of America and the Company has already received an advance of US$ 1.8 million (approximately Rs.8.1 crores) towards the said order.

 

 

August 12, 2010

 

 

Declaration of Dividend

 

The Board of Directors of the Company at its meeting held on Thursday, 12th August, 2010 has declared a dividend of Re.1/- per equity share of Rs.10/- each fully paid-up (i.e. 10%) for the financial year ended   31st March, 2010.

 

 

October 30, 2009

 

 

Buy-back of Equity Shares

 

The Board of Directors of the Company at its meeting held on Friday, 30th October, 2009 has, inter-alia, approved the Buy-back of its fully paid-up Equity Shares of the face value of Rs.10/- each at a price not exceeding Rs.50/- (Rupees Fifty only) per Equity Share (the “Maximum Offer Price”) for an aggregate amount not exceeding Rs. 5.25 crores (“Maximum Offer Size”) through the methodology of “Open market purchases through Stock Exchanges”. The Maximum Offer Size represents 3.53% of the aggregate of the Company’s total paid-up equity share capital and free reserves as on March 31, 2009. 

 

 

August 28, 2009

 

 

Change in the shareholding in Goldiam HK Limited, Hongkong, a subsidiary of the Company

 

Goldiam HK Limited, Hongkong, a subsidiary of the Company, had offered shares on Rights basis to all the shareholders. However, in view of the global economic slowdown, the Company has not subscribed to the Rights Issue and consequently, the shareholding of the Company in Goldiam HK Limited has fallen below 50% and Goldiam HK Limited has ceased to be a subsidiary of the Company.

 

 

June 15, 2009

 

 

Updates on Voluntary Retirement Scheme of the Company

 

Pursuant to the Voluntary Retirement Scheme (VRS) announced by the Company, further 182 employees have opted for voluntary retirement upto June 13, 2009 and have been relieved from the services of the Company. The Company has, subsequently, closed the Scheme.

 

 

 

 

 

 

 

 

 

March 31, 2009

 

 

Updates on Voluntary Retirement Scheme of the Company

 

Pursuant to the Voluntary Retirement Scheme (VRS) announced by the Company, 306 employees have opted for voluntary retirement upto 30th March, 2009 and have been relieved from the services of the Company.

 

 

February 21, 2009

 

 

Announcement of Voluntary Retirement Scheme by the Company

 

The Company has announced Voluntary Retirement Scheme for its employees. The acceptance of this offer will reduce the operational overheads and improve the efficiency.

 

 

December 01, 2008

 

 

Downsizing operations in the Retail Silver Jewellery Segment distributed under the Brand name ‘OLA’     

 

Goldiam International Limited is scaling down its operations in the Retail Silver Jewellery Segment distributed under the Brand name ‘OLA’. The Company has started pulling out from retail outlets and the business will be carried on only from a few selected stores. This will enable the Company to control its overheads and improve its operations.

 

 

April 21, 2008

 

 

Postal Ballot Results

 

Members of the Company have exercised their voting rights on the resolutions relating to Item no.1 (pertaining to Buyback of Equity Shares) and Item No. 2 (pertaining to addition of new sub-clauses in the Main Objects Clause of the Memorandum of Association of the Company) of the Notice dated 25th February, 2008 and the same have been passed as Special Resolutions with requisite majority as per the Report of the Scrutiniser, Mr. Rajnikant N. Shah, Proprietor, M/s. R. N. Shah & Associates, Practicing Company Secretaries, as detailed hereunder:

 

                                                                                                            Item No.1                 Item No.2

                                                                                                            (Buy-Back)      (Addition of Objects)

 

I.          Total number of shareholders                                                    13944                          13944 

II          Total shareholders to whom postal Ballots sent                          13944                          13944

III        Total shareholders who exercised their votes

through Postal Ballot                                                                 108                              97       

Number of Shareholders in favour                                             106                              94

Number of Shareholders against                                                2                                  3

 

IV.       Number of Postal Ballots rejected                                                        

Number of Shareholders                                                           10                                21       

Number of Shares                                                                    2360                            33349

 

V         Shareholders in favour of resolution as a percentage of

Voters who exercised their votes                                               98.148                         96.907

 

VI        Total votes (in terms of number of voting rights/shares)

Exercised through Postal Ballots                                                17663508                    17632519

Number of votes in favour of resolution                                     17663058                    17631909

Number of votes against resolution                                            450                              610

 

VII       Votes in favour of the resolution as a percentage

of Votes cast                                                                            99.997                         99.996

Votes against the resolution as a percentage of votes cast          0.003                           0.004

 

 

February 25, 2008

 

 

Outcome of Board Meeting

 

The Board of Directors of the Company at its meeting held on Monday, 25th February, 2008, has, inter-alia, approved the following items after due deliberations, subject to the approval of the shareholders through the Postal Ballot voting process:

 

1.         Buy-back of upto 5.5% of the equity share capital of the Company at a price not exceeding Rs.85/- (Rupees Eighty Five only) from the Open market through the Stock Exchanges subject to the aggregate consideration not exceeding Rs.93,752,317/- (Rupees Nine Crores Thirty Seven Lakhs Fifty Two Thousand Three Hundred and Seventeen only). The buy-back offer will remain open upto 31st December, 2008

 

2.         Alteration of the Objects to be pursued by the Company by inserting a new sub-clause relating to the development of infrastructure, residential, commercial, industrial etc. properties after the existing sub-clauses in Main Objects of the Memorandum of Association of the Company.

 

The Board of Directors has appointed Mr. Rajnikant N. Shah, Proprietor, M/s. R. N. Shah & Associates, Practicing Company Secretaries, as the Scrutinizer for the postal ballot voting process.

 

 

January 8, 2008

 

 

Goldiam International Limited enters into a contract for the export of Jewellery worth US $ 10,000,000 (US DOLLARS TEN MILLION)     

 

Goldiam International Limited, Mumbai and its Subsidiary Companies, Goldiam Hong Kong Limited, China and Goldiam Jewels Limited, Mumbai have entered into a contract with Socotra Diamonds Limited, Dubai, UAE, for the export of Jewellery worth US $ 10,000,000/- (US DOLLARS TEN MILLION). The delivery of the Goods will be made starting 02/01/2008 and until 02/01/2009.

 

 

December 17, 2007

 

 

Goldiam International Limited’s Subsidiary Company Diagold Designs Limited’s foray in Russian markets    

 

Goldiam International Limited’s Subsidiary Company, Diagold Designs Limited, is venturing in the Russian markets with a Distribution & Retail business in diamond studded jewellery manufactured in the Group’s factories in India and China. The business is expected to be operational by February, 2008 and to generate US $10 million incremental sales in the Financial Year 2008-2009.

Diagold Designs Limited is also in talks with a leading Russian Retail business house for a proposed Joint Venture.

 

 

December 11, 2007

 

 

Distribution tie-ups of the Company’s Retail brand in the Silver Jewellery Segment, ‘OLA’

 

We have great pleasure in announcing that the Company’s Retail brand in the Silver Jewellery Segment, ‘OLA’ has entered into distribution tie-ups with some of the leading groups, being:

 

Total Mall in Bangalore. The kiosk is expected to be operational by the end of December, 2007.

DLF group for kiosks at Delhi and Chandigarh, to be operational by February, 2008 and showroom in Kolkata to be operational by 2009.

E City Ventures Fun Republic Cinemas and Malls in Bombay, Bangalore, Delhi, Ahemdabad, Lucknow and Gulbarga. As of now, 13 outlets are to open by the middle of January and 7 more are expected to open by March, 2008.

Aditya Birla Group, MORE Hyper Stores for Baroda, to be opened in February, 2008.

Hypercity ARGOS. Ola has featured in the Jewellery section of this first time ever shopping catalogue for Silver and Diamond Jewellery.

 

Currently, Ola is available in 21 cities at 80 points-of-sale which are expected to rise to 125 points-of-sale by March, 2008.

Ola is available in a shop-in-shop format with Multi Brand Outlets (MBOs) like Lifestyle, Pantaloons, Globus, Central, Big Bazaar, Spencers and Ebony.

Ola has its own showrooms at Atria Mall and Prime Mall in Bombay and Iscon Mega Mall in Ahmedabad.

Ola has its kiosks in the atriums of various leading malls like Inorbit, Infinity and Mumbai Citi Centre in Bombay and Gopalan Mall in Bangalore.

 

 

December 10, 2007

 

Approval for establishment of a Trading Unit in SEEPZ SEZ, Andheri (E), Mumbai 400 096 

 

We are glad to announce that the Development Commissioner, SEEPZ Special Economic Zone has granted permission to the Company for the establishment a Trading Unit in SEEPZ SEZ, Andheri (E), Mumbai 400 096 in the State of Maharashtra with an Annual Capacity of Rs. 1,103,000,000/-   (Rupees One Hundred and Ten Crores Thirty Lakhs only) for undertaking trading activities in the below mentioned items of trading:

 

Rough Diamonds, Cut & Polished Diamonds, Precious Stones, C & P Precious and Semi-Precious Stones, Synthetic Stones (C. Z.), Pearls, Alloys, Plain & Studded Gold Jewellery, Plain & Studded Silver Jewellery, Labels, Findings (Gold/ Silver/ Platinum), Mountings (Gold/ Silver/ Platinum), Stainless Steel Jewellery studded with Diamonds and Precious stones only.

 

This Trading unit shall be entitled for Tax exemption benefits under Section 10AA of the Income Tax Act, 1961.