Subex Azure - Outcome Of AGM

Subex Azure Ltd has informed that the members at the 13th Annual General Meeting (AGM) of the Company held on July 26, 2007, inter alia, have unanimously adopted the following resolutions:

1. Adoption of Audited Annual Accounts consisting of Balance Sheet as at March 31, 2007, Profit and Loss Account for the year ended March 31, 2007 and Schedules to these Accounts, along with the Report of Directors and Statutory Auditors thereon and other documents forming part of Annual Report.

2. Declaration of final Dividend to the equity shareholders of the company @20%.

3. Re-appointment of Mr. V Balaji Bhat & Mr. K Balachandran as a Directors of the company.

4. Re-appointment of M/s. Deloitte Haskins & Sells as Statutory Auditors of the company for the financial year 2007-08.

5. Re-appointment of Mr. Subash Menon as the Managing Director & Chief Executive Officer of the company, for a period of five years, with effect from October 01, 2007 to hold office until September 30, 2012 and increase of remuneration with effect from April 01, 2007.

6. Revision in the terms of appointment including remuneration of Mr. Sudeesh Yezhuvath, Wholetime Director & Chief Operating Officer with effect from April 01, 2007.