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Saturday, March 1, 2008

GTC Industries - Outcome of Board Meeting

GTC Industries Ltd has informed that the Board of Directors of the Company at its meeting held on February 29, 2008, inter alia, has considered and granted its in-principle approval to demerge the Tobacco business and the Real Estate business into two separate entities. Both these entities will be listed on the Stock Exchanges where the shares of the Company are presently listed.

The Managing Director of the Company has been authorized to examine various options for working out a suitable scheme of Demerger and place before the Board for its approval.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jun 26
18:55 Fed's Goolsbee speech 2
19:30 Pending Home Sales (MoM) 2 1.8% -0.3% -6.3%
19:30 Pending Home Sales (YoY) 1 1.1% -2.5%
20:00 EIA Natural Gas Storage Change 1 96B 88B 95B
20:00 BoE's Lombardelli speech 2
20:30 Kansas Fed Manufacturing Activity 1 -10
21:00 4-Week Bill Auction 1 4.06%
22:30 7-Year Note Auction 1 4.194%
22:45 Fed's Barr speech 2
Friday, Jun 27
03:30 ANZ – Roy Morgan Consumer Confidence 2 92.9
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