JSW Steel - Outcome Of AGM

JSW Steel Ltd has informed that the members at the 13th Annual General Meeting (AGM) of the Company held on June 13, 2007, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet as at March 31, 2007, the Profit and Loss Account for the year ended on that date, together with the Reports of the Board of Directors and the Auditors thereon.

2. Declaration of dividend at the stipulated rate of Re 1 per 10% Cumulative Redeemable Preference Share (CRPS) of Rs 10 each of the Company for the Financial Year 2006-07.

3. Confirmation of the interim dividend @ 125% i.e. Rs 12.50 per equity share of Rs 10 each on the paid-up equity share capital of the Company as the final dividend for the year ended March 31, 2007.

4. Re-appointment of Mrs. Savitri Devi Jindal, Mr. Anthony Paul Pedder & Dr. Vijay Kelkar as Directors of the Company, liable to retire by rotation.

5. Re-appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants, Mumbai, as Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

6. Appointment of Biswadip Gupta & Dr. Vinod Nowal as Directors of the Company, liable to retire by rotation.

7. Appointment of Dr. Vinod Nowal as Directors (Commercial) of the Company, for a period of five years, with effect from April 30, 2007, on remuneration, terms & conditions.