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History of DIC India Ltd.

YEAR EVENTS 1947 - The Comp. was incorporated on 2nd April, as a private limited Comp. & commenced business soon thereafter. The Comp. was converted into a public limited Comp. on 27th February, 1976. Originally it was a wholly owned subsidiary of Coates Brothers & Co. Ltd., London, U.K. The Main object of Comp. is to manufacture printing ink, printers sundries, synthetic resins & other surface coating materials.

1961 - The entire capital was held by Coates Brothers and Co. Ltd. 24,404 No. of equity shares were issued as rights.

1962 - In March, 28,153 No. of equity shares were issued to resident Indian national at a premium of Rs. 65 per share.

- The shareholding in the Comp. of Coates Brothers and Co. Ltd., U.K. was reduced to 66 2/3% by issue of further shares to Indian residents.

1964 - 96,000 Right equity shares were issued at par.

1970 - 35,013-1/3 shares issued without payment in cash. 1,80,459 bonus shares issued in prop. 1:1 29th January 1968. 2,40,612 shares held by Coates Brothers and Co. limited U.K. 1974 - 3,60,918 bonus shares issued in prop. 1:1. 1977 - During July, 2,00,000 shares offered to the public [prem. Rs. 6 per shares].

- Reserve Bank of India approved transfer of 1,12,490 equity shares of Rs. 10 each held by Coates Brothers and Co. Ltd., U.K., to Mimec [Indias] Pvt. Ltd., Calcutta [registered in Indias] at a price of Rs. 16 per share.

- After this transfer of shares & after the public issue of capital during July the holding of Coates Brothers and Co. Ltd., was reduced to slightly less than 40%.

- The object of public issue of shares during July, was to reduce the non-resident holding from 66 2/3% to less than 40%.

1978 - 1,84,335 bonus shares issued in proportion 1:5.

1982 - As part of modernisation & rehabilitation programme, a modern 1 tonne resin kettle was installed at the Mumbai unit.

1983 - The Comp. installed 4 nos. high efficiency dispension mills at its Mumbai & Calcutta factories.

1985 - 2,21,241 bonus equity shares issued in August 1986 in the proportion 1:5.

1989 - Authorised capital reclassified. 8,84,962 bonus shares issued in proportion 2:3, in January 1990.

1991 - Karson Paints limited [KPLs] had become a subsidiary of Company. This subsidiary was merged with Coates of India, limited [Parent companys] with effect from 1st July, 1992.

1992 - A project to manufacture industrial adhesives at the premises of Karson Paints Ltd., made satisfactory progress. Bostik Ltd., U.K with whom the Comp. had entered into a technical collaboration agreement, completed transfer of technology.

- 22,12,405 bonus shares issued in prop. 1:1.

1993 - During July-August, the Comp. issued 11,06,203 No. of equity shares of Rs. 10 each for cash at a premium of Rs.30 per share on Rights basis in the proportion 1:4. [all were taken ups]. - Another 55,310 No. of equity shares of Rs.10 each were offered at a premium of Rs. 30 per share to employees' on an equitable basis [Only 55,300 shares were taken ups].

- 2,12,405 bonus shares issued in proportion 1:1.

- 11,61,503 Rights shares [1:4, premium Rs.30s] issued to share-holders and employees.

1994 - Effective 1st February, the Comp. allotted 12,99,224 No. of equity shares of Rs. 10 each at a premium of Rs.10 per share on a preferential basis of Coates Brothers Plc, London to enable them to increase their holding from 39.60% to 51%.

1996

-Coates of India was entered into a joint venture with Valspar Corporation of US & transferred its can coatings business to this company.

- The Comp. proposed to enter a joint venture with Cray Valley of France. Approval was awaited from the Pollution Control Board.

1997

-Approved the scheme for transfer of packaging coatings business of Coates to the joint venture with Valspar Corporation of US.

-decided to participate in the equity of Cray Valley Resins India Ltd the new joint venture between the Comp. & the French firm Cray Valley.

1998

-Coates of India proposed joint venture in India with Cray Valley of France now more than a year on the starting block faces a grim future despite a Central Government clearance for project.

-The `AA' [pronounced `double A's] rating assigned to the nonconvertible debenture programme [enhanced from Rs. 3 crores to Rs. 10 croress] has been reaffirmed.

1999

-Coates of India Ltd has spun off its packaging coatings business into a wholly owned subsidiary Comp. called Coates Coatings India Ltd [CCILs] which has initiated moves to induct Valspar Corporation of US as a 49-per cent joint venture partner.

-The parent Comp. TotalFina SA has signed a memorandum of understanding with Sun Chemical group for transfer of coating inks divisions of TotalFina.

2000

-Finalised the sale of its adhesives division to Bostik India Pvt Ltd at a consideration of little over Rs 9 crore.

- The Oswals of Ludhiana-based Vardhman group have bought out Coates in the joint venture Comp. Barber Vardhman.

-SUN Chemicals Group BV [SCGBVs] which had already acquired 51 per cent stake in Coates of India Ltd has made an open offer to buy an additional 17 21 385 shares of Rs. 10 each at Rs. 165 per scrip from the existing shareholders.

-Acquisition of 59.42 per cent controlling stake in Coates of India Ltd [COILs] the DIC [Dainippon Ink & Chemicalss] Group of Japan has decided to bring into India some of its top-end products in the graphic arts business.

2001

-Sun Chemical Group B.V. has acquired 35,11,624 [51 per cents] equity shares of Coates India Ltd from Coates Brothers Plc UK at a total consideration of GBP 60,20,000.

-Mr. B S Kampani has been appointed as Wholetime Director of company.

2003

-Dainippon Ink and Chemical [DICs] Asia Pacific, the Singapore-based parent of Coates of India [CoIs], has hiked its stake in the Indian subsidiary to 61.4% from 59.4% by buying shares from the secondary market.

-DIC [Dainippon Inks and Chemicalss] Group of Japan, has decided to set up a new plant in Bangalore for some of its specialised Graphic Arts products.

-DIC Asia Pacific Pte limited Singapore has informed that they have acquired 1,69,491 shares amounting to 2.46% of total paid up capital of Coates of India Limited.

-Board accepted the resignation of Mr B M Varma - Non-executive Director from the close of business on October 31, 2003.

2004

-Coates Of India Ltd has informed that pursuant to the application for change of name made by company, the Registrar of Companies, West Bengal has issued a fresh certificate of Incorporation dated August 6, 2004 for change of name of Comp. to DIC India Limited

2007

-Dic India Limited has appointed Dr. P K Dutt, Managing Director to take on the resposibility of Chairman-cum-Managing Director of Company.

-DIC India Ltd has appointed Prof. Ranjan Das and Mr. Subir Bose, as Independent & Additional Directors in the Board of Comp. to hold office till the date of forthcoming Annual General Meeting of Company.

-The Comp. has issued rights in the ratio of 1:3 at a premium of Rs.215/- Per Share.