2002

An Archive of HUL Press Releases over the years.

Latest press releases

HLL BONUS DEBENTURE SCHEME APPROVED BY HON'BLE BOMBAY HIGH COURT
19-12-2002:

The Hon'ble High Court of Bombay in Mumbai today approved the Scheme of Arrangement between Hindustan Lever Limited (HLL) and its shareholders for issue of Bonus Debentures and payment of Special Dividend.

HLL ACQUIRES BALANCE 26% EQUITY IN MODERN FOODS FROM GOVERNMENT OF INDIA
27-11-2002:

Hindustan Lever Limited (HLL) has acquired the balance 25.99% of Equity in Modern Food Industries (India)Limited (MFIL) from the Government of India(GOI) for Rs. 44.07 crores, thereby completing the disinvestment of GOI equity in MFIL. In January 2000, HLL had acquired 74% of MFIL equity from the GOI.

HLL SHAREHOLDERS APPROVE BONUS DEBENTURE SCHEME BY 99.99% MAJORITY
12-08-2002:

The shareholders of Hindustan Lever Limited (HLL) have by an overwhelming majority approved the company’s revised Bonus Debenture Scheme.

India can create 70 million new jobs and add 2% annually to GDP growth by global sourcing of manufactured exports, says M.S. Banga
26-06-2002:

India can double its exports growth rate to 20%, adding 2% to GDP growth rate annually and creating 70 million new jobs in the private organised sector over 10 years, if it leverages its potential to become a preferred sourcing centre for manufactured exports, Mr. M.S. Banga, Chairman of Hindustan Lever Limited (HLL), said here today.

HLL LAUNCHES ‘LEVER AYUSH’ AYURVEDIC HEALTH & BEAUTY CARE PRODUCTS
03-06-2002:

Hindustan Lever Limited (HLL) today announced the launch of its Health Care portfolio with Lever Ayush ayurvedic health and beauty care products. The purity of the ayurvedic ingredients in Lever Ayush is endorsed by the renowned Arya Vaidya Pharmacy (AVP) of Coimbatore. Lever Ayush products’ benefits and safety have been proven through extensive testing at reputed hospitals of the country and research organisations. It is for the first time that rigorous testing procedures of the pharmaceutical industry have been applied to ayurvedic products. That is why the brand seal is ‘Truth of Ayurveda; Proof of Science’.

HLL PROPOSES CHANGES TO BONUS DEBENTURE SCHEME
20-05-2002:

The Board of Hindustan Lever Limited (HLL), which met here today, has proposed certain changes in the company’s Bonus Debenture Scheme with a view to ensuring that the promised benefits are indeed made available to shareholders in a fair and equitable manner, in the light of the revised tax regime under the Finance Act 2002 as approved by Parliament. In addition to a Bonus Debenture of Rs.6 each per share, HLL will also pay a Special Dividend of Rs.2.76 per share as part of the Scheme. The entire tax on Bonus Debentures and Special Dividend will be deducted out of the Rs.2.76 Special Dividend, ensuring that the face value of the Bonus Debenture is uniform at Rs.6. Both the Bonus Debenture and the Special Dividend will be payable by reference to the same Record Date as may be fixed for allotment of Bonus Debenture.

SUO MOTO STATEMENT ON HLL’S BONUS DEBENTURES PROPOSAL
05-04-2002:

Hindustan Lever Limited (HLL), has come across certain unfounded and mischievous reports and rumours, over the last few days.

The company therefore, is issuing the following suo moto statement:

HLL ANNOUNCES JOINT VENTURE FOR ITS SEEDS UNDERTAKING
30-03-2002:

Hindustan Lever Limited (HLL) today signed a Joint Venture Agreement with India Seeds Holdings Limited (ISHL), a company incorporated in Mauritius engaged in the seed and biotechnology industry, with ISHL acquiring a 74% shareholding in HLL’s subsidiary, Paras Extra Growth Seeds Limited (PEGSL). The capital base of PEGSL is being expanded for this purpose.

HLL SHAREHOLDERS APPROVE SEEDS DISPOSAL BY 99.56% MAJORITY
18-02-2002:

Shareholders of Hindustan Lever Limited (HLL) have approved the disposal of the company’s seeds undertaking to Paras Extra Growth Seeds Limited, a subsidiary of HLL, by an overwhelming majority of 99.56% votes. There were 129,86,95,597 votes in favour of the resolution and 56,81,857 against. The polling was done through postal ballot. The results were announced to the shareholders today.