Titan Industries Ltd has informed that the members at the 23rd Annual General Meeting (AGM) of the Company held on July 27, 2007, have accorded their approval to the following business conducted:
1. Adoption of Auditor's Report, the Audited Profit and Loss Account and the Audited Balance Sheet for the year ended March 31, 2007.
2. Payment of Dividend on equity shares for the year ended March 31, 2007 at the rate of 50%, with the dividend being Rs 5.00 for every equity share, free of tax.
3. Payment of Interim Dividend paid on Redeemable Cumulative Preference Shares for the year ended March 31, 2007 as final preference dividend.
4. Re-appointment of Mr. Ishaat Hussain, Mr. F K Kavarana and Mr. S Susai, Directors who retired by rotation as Directors of the Company.
5. Appointment of Mr. Nihal Kaviratne, Ms. Vinita Bali and Mr. Sunil Paliwal as Directors, liable to retire by rotation.
6. Re-appointment Mr. Bhaskar Bhat as Managing Director of the Company for a further period of 5 years from April 01, 2007 to March 31, 2012.
7. Re-appointment of M/s. A F Ferguson & Co, as Statutory Auditors of the Company to audit the Accounts of the Company for the Financial Year 2007-08.
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