Held on 13 October 2014
Liberty Shoes announced that the Board of Directors of the Company at its meeting held on 13 October 2014, inter alia, has noted the following:1. During the first half of the financial year 2015, the Company has added 37 new exclusive stores in Company Owned & Company Operated (COCO) and franchisee format under its retail expansion programme. The Company has further ambitious plans to expand its existing number of stores in future also.
2. The credit rating of Long Term Bank Facilities of the Company has been upgraded to A (-) by the Leading Credit Rating Agency during the quarter under consideration.
3. The Company has paid Dividend @ 15% on Equity Shares Capital of the Company for financial year ended 31 March 2014 with due approval of the Shareholders in 28th Annual General Meeting held on 29 September 2014.
4. The Board also observed the necessity of Independent Director on the Board of the Company consequent to the resignation of one of Independent Director in compliance with the Listing Agreements and has initiated the process of filling the said vacancy.
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