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| Exchange Disseminated Time | VST Industries Ltd has informed BSE that the members at the 75th Annual General Meeting (AGM) of the Company held on July 27, 2006, have accorded to the following:
1. Adoption of the Report of the Directors to the Shareholders for the year ended March 31, 2006, Balance Sheet as at March 31, 2006 and Profit and Loss Account for the year ended on that date and the Report of the Auditors thereon.
2. Declaration of Dividend of Rs 12.50 per share (125%) for the Financial year ended March 31, 2006 and the same be paid on or before August 26, 2006 to the Ordinary Shareholders of the Company.
3. Appointment of Mr T Lakshmanan and Mr N Sai Sankar as Directors of the Company.
4. Appointment of Messrs Lovelock & Lewes, Chartered Accountants, as the Auditors of the Company to hold such office until the conclusion of the next Annual General Meeting on remuneration, terms and conditions.
5. Appointment of Mr S Thirumalai as Director of the Company, liable to retire by rotation.
6. Authority to Board to vary, alter and modify the remuneration payable to Mr Raymond S Noronha, Managing Director of the Company with effect from April 01, 2006 for the remaining period of his office upto October 31, 2008 or upto the date of his retirement, whichever is earlier on terms and conditions.
7. Authority to Board to vary, alter and modify the remuneration payable to Mr N Sai Sankar, Wholetime Director of the Company with effect from April 01, 2006 for the remaining period of his office upto December 31, 2010 on terms and conditions.
8. Delisting of the equity shares of the Company from The Hyderabad Stock Exchange Ltd. |
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