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ACC, Ambuja Cement to hand out technology and know-how fee to Holcim Technology

20 Feb 2013

Holcim-owned ACC and Ambuja Cement have received their investors’ approval for paying a ‘technology and know-how’ fee of 1% of the net sales to Holcim Technology for two years, starting 2013.

At ACC, the postal voting, conducted as an ordinary resolution was passed with 75.65% of members voting in favour of the same, while 24.30% voting against it. Meanwhile, 0.05% were invalid votes. In case of Ambuja Cement, the postal voting conducted as an ordinary resolution was passed with 71.84% of the shareholders voting in the favour of the same and 28.16% voting against it.

ACC recorded consolidated net sales of Rs 11,130.56 crore for the year ended December 31,2012 as against 10002.07 crore for the year ended December 31,2012, while Ambuja Cement's consolidated net sale figure stood at Rs 9739.54 crore for FY12. Given the 1% fee would be payable for the current year, Holcim Technology will now receive a payment of Rs 111.30 crore from ACC and Rs 97.39 crore from Ambuja Cement.

ACC Share Price

2211.40 -5.70 (-0.26%) Oct 26, 12:07
1 Year Price Chart
Peers
Company Name CMP
Ultratech Cement 7224.95
ACC 2211.40
Shree Cement 27638.15
Ambuja Cement 374.20
Dalmia Bharat 1937.05
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