United Spirits Ltd

United Spirits Recommends Dividend Of Rs 2.50 per share The board of United Spirits in its meeting held on 15 May 2013 has recommended dividend on equity shares at the rate of Rs 2.50 per share (25%).

United Spirits to announce Q3 results Board meeting on 04 February 2013 The board meeting of United Spirits will be held on 04 February 2013 to consider the un-audited financial results (provisional) of the company for the three months ended 31 December 2012 (Q3).

United Spirits to issue equity shares to Relay B V On preferential allotment basis The board of United Spirits at its meeting held on 09 November 2012 has approved, subject to shareholder and other necessary approvals, the issuance, by way of a preferential allotment pursuant to the provisions of Section 81(1 A) of the Companies Act, 1956 and other applicable legal provisions, including Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ("SEBI CDR Regulations") of 14,532,775 equity shares of face value Rs 10 each to Relay B V, a wholly owned subsidiary of Diageo Plc, at a price of not less than Rs 1,440 per equity share. The approval of the shareholders for such allotment will be sought by way of postal ballot. The board of directors has approved, and the company, Relay BV and Diageo Plc have entered into a preferential allotment agreement in relation to such issuance. Palmer Investment Group and UB Sports Management Overseas, subsidiaries of the company, and USL Benefit Trust of which the company is a beneficiary, have also approved and entered into a share purchase agreement for the sale to Relay B V of equity shares held by them in the company (aggregating 8,384,321 shares) at a price of Rs 1,440 per equity share. Other sellers under the share purchase agreement are United Breweries (Holdings), Kingfisher Finvest India and SWEW Benefit Company. The preferential allotment as also the sale of shares as aforesaid is subject to various conditions precedent including regulatory approvals.

United Spirits to announce Q2 results Board meeting on 09 November 2012 The board meeting of United Spirits will be held on 09 November 2012 to consider the un-audited financial results (provisional) of the company for the three months ended 30 September 2012 (Q2).

Floor price for offer for sale of Pioneer Distilleries` equity shares disclosed It is Rs 38 per share United Spirits has disclosed the floor price for the offer for sale of 935,982 equity shares of Pioneer Distilleries. The floor price for the said offer for sale shall be Rs 38 per equity share.

United Spirits announces joint statement from Diageo plc and United Spirits United Spirits has announced that on 25 September 2012 Diageo plc and United Spirits have issued the following joint statement: United Spirits and Diageo plc confirm that Diageo plc is in discussion with United Spirits and United Breweries (Holdings) in respect of possible transactions for Diageo plc to acquire an interest in United Spirits. However, there is no certainty that these discussions will lead to a transaction.

United Spirits to announce Q1 results Board meeting on 27 July 2012 The board meeting of United Spirits will be held on 27 July 2012 to consider the un-audited financial results (provisional) of the company for the three months ended 30 June 2012 (Q1).

United Spirits recommends dividend Of 25% The board of United Spirits in its meeting on 29 May 2012 has recommended dividend at the rate of Rs 2.50 per share (25%).

United Spirits to consider dividend Board meeting on 29 May 2012 The board meeting of United Spirits will be held on 29 May 2012 to consider the audited accounts for the year ended 31 March 2012 and for recommendation of dividend, if any.

United Spirits to issue FCCBs The members of United Spirits have approved the special resolution for issue of Foreign Currency Convertible Bonds (FCCBs) convertible into equity shares for an amount not exceeding US$ 175 million with a green shoe option of an aggregate sum not exceeding US$ 50 million. This was approved at the extraordinary general meeting held on 20 January 2012.

United Spirits to announce financial results Board meeting on 20 January 2012 The board meeting of United Spirits will be held on 20 January 2012 to consider the un-audited financial results (provisional) of the company for the three months ended 31 December 2011 (Q3).

United Spirits to convene EGM On 20 January 2012 United Spirits has announced that the extraordinary general meeting of the company will be held on 20 January 2012.

United Spirits to raise funds To convene EGM The board of United Spirits in its meeting on 21 December 2011 has approved the raising of funds through issue of Foreign Currency Convertible Bonds (FCCBs), for an aggregate sum not exceeding US$ 225 million, subject to approval of shareholders. Further, the board has decided to convene extraordinary general meeting on 20 January 2012.

United Spirits to announce Q2 results Board meeting on 07 November 2011 The board meeting of United Spirits will be held on 07 November 2011 to consider the un-audited financial results (provisional) of the company for the three months ended 30 September 2011 (Q2).

United Spirits recommends dividend Of 25% The board of United Spirits in its meeting on 03 August 2011 has recommended dividend at the rate of Rs 2.50 per share (25%).

United Spirits to consider dividend Board meeting on 03 August 2011 The board meeting of United Spirits will be held on 03 August 2011 to consider the unaudited financial results (provisional) for the three months ended 30 June 2011 and to consider the audited accounts for the year ended 31 March 2011. The board will also consider recommendation of dividend, if any.

United Spirits acquires 19.99% equity stake in Sovereign Distilleries On 01 July 2011 United Spirits has announced that with reference to earlier announcement dated 04 April 2011 informing of company`s acquisition of 41.54% equity stake in Sovereign Distilleries (SDL), an unlisted public company engaged in the manufacture and sale of extra neutral alcohol and Indian made foreign liquor, the compnay has now announced that the company has acquired a further 19.99% equity stake in "SDL" on 01 July 2011. SDL has therefore, become a subsidiary of the company with effect from 01 July 2011.

United Spirits postpones board meeting Scheduled to be held on 28 June 2011 The board meeting of United Spirits which was scheduled to be held on 28 June 2011 has been postponed.

United Spirits to announce audited financial results Board meeting on 28 June 2011 The board meeting of United Spirits will be held on 28 June 2011 to consider the audited accounts of the company for the financial year ended 31 March 2011 and to recommend dividend.

United Spirits appoints MD With effect from 02 May 2011 The board of United Spirits in its meeting on 29 April 2011 has appointed Ashok Capoor as managing director of the company for a period of 3 years with effect from 02 May 2011. Further, V K Rekhi has ceased to be the managing director of the company with effect from 19 April 2011. V K Rekhi also ceased to be a director of the company with effect from 29 April 2011.

V K Rekhi ceases as MD of United Spirits With effect from 19 April 2011 United Spirits has announced that V K Rekhi has ceased to be the managing director of the company with effect from 19 April 2011, consequent upon the expiry of the period of his office as managing director of the company.

United Spirits to announce financial results Board meeting on 29 April 2011 The board meeting of United Spirits will be held on 29 April 2011 to consider the un-audited financial results (provisional) of the company for the three months ended 31 March 2011.

United Spirits acquires equity stake in Sovereign Distilleries United Spirits has acquired 41.54% stake in Karnataka-based Sovereign Distilleries. Sovereign Distilleries is the producer of extra neutral alcohol (ENA) using both molasses and grain. The distillery currently has a capacity to produce 180 kilo litres of alcohol per day (KLPD). With this investment, the company has attained 35% self sufficiency in its projected total liquid requirements. This move also brings an arbitrage in purchase rates which will directly bolster USL`s EBIDTA. The company made this announcement before the trading hours on 04 April 2011.

United Spirits approves amalgamation of its wholly owned subsidiary United Spirits has announced that the board of Chennai Breweries, a wholly owned subsidiary of the company at their meeting held on 11 March 2011 has considered and approved the amalgamation of Chennai Breweries (CBPL) into United Breweries (UBL).

United Spirits to announce Q3 results Board meeting on 09 February 2011 The board meeting of United Spirits will be held on 09 February 2011 to consider the un-audited financial results (provisional) of the company for the three months ended 31 December 2010 (Q3).

United Spirits allots equity shares On 14 January 2011 The committee of United Spirits in its meeting on 14 January 2011 has allotted 52,00,639 equity shares of Rs 10 each fully paid-up to the equity shareholders of BDL, pursuant to the scheme of arrangement between Balaji Distilleries (BDL) and Chennai Breweries (CBPL), United Spirits (USL) and their respective shareholders and creditors. Post-allotment, the paid up share capital of the company stands increased to Rs. 130.80 crore.

United Spirits to issue & allot equity shares As per scheme of arrangement United Spirits has announced that the scheme of arrangement between Balaji Distilleries (BDL), Chennai Breweries (CBPL), United Spirits (USL), and their respective shareholders and creditors has become effective from 27 December 2010. As per the scheme, USL shall issue and allot 2 fully paid up equity shares of face value of Rs. 10 each for every 55 fully paid up equity shares of face value of Rs. 10 each held in BDL.

Merger of Balaji Distilleries into United Spirits approved United Spirits has announced that the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) has sanctioned the rehabilitation scheme of Balaji Distilleries vide their order dated 29 November 2010. Under the scheme of arrangement, Balaji Distilleries will transfer all the assets and liabilities relating to the breweries division to Chennai Breweries Pvt Ltd, a wholly owned subsidiary of Balaji Distilleries, and Balaji Distilleries will merge with United Spirits on a going concern basis with affect from 01 April 2009. In consideration of the above, United Spirits shall issue equity shares of United Spirits to the shareholders of Balaji Distilleries as per the scheme approved at 2 shares of United Spirits for every 55 shares held in Balaji Distilleries. Chennai Breweries Pvt Ltd will become a 100% owned subsidiary of United Spirits. The company will take all necessary steps to make the scheme effective.

United Spirits to announce Q2 results Board meeting on 27 October 2010 The board meeting of United Spirits will be held on 27 October 2010 to consider the un-audited financial results (provisional) of the company for the three months ended 30 September 2010 (Q2).

United Spirits' board approves share purchase agreement With the existing promoters of Pioneer Distilleries The board of United Spirits in its meeting on 13 September 2010 has approved entering into a share purchase agreement with the existing promoters of Pioneer Distilleries (PDL) for acquisition of 73,22,280 equity shares of Rs. 10 each of PDL, representing 54.69% of the fully paid up equity share capital of PDL at a price of Rs 101 per equity share.

United Spirits recommends dividend Of 25% The board of United Spirits in its meeting on 18 August 2010 has recommended dividend at the rate of Rs 2.50 per share (25%).

United Spirits to consider dividend Board meeting on 18 August 2010 The board meeting of United Spirits will be held on 18 August 2010 to consider the audited accounts of the company for the financial year ended 31 March 2010 and to consider recommendation of dividend, if any.