Chowgule Steamships - Outcome Of AGM

Chowgule Steamships Ltd has informed that the members at the 44th Annual General Meeting (AGM) of the Company held on July 20, 2007, inter alia, have accorded the following:

1. Adoption of the Balance Sheet of the Company as at March 31, 2007 and Profit & Loss Account together with the consolidated accounts and cash flow statement for the year ended on that date annexed thereto and the Directors and Auditors Reports thereon.

2. Declaration of dividend for the financial year ended March 31, 2007 at the rate of Re 1.00 per Equity Share on 3,63,08,425 Equity Shares of Rs 10/- each to the Shareholders.

3. Appointment of Mr. M R B Punja, Mr. Dhananjay N Mungale & Mr. Jaywant Y Chowgule, as Directors of the Company, liable to retire by rotation.

4. Appointment of Messrs. S B Billimoria & Co., Chartered Accountants, as Auditors of the Company from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Appointment of Mr. M P Patwardhan, as Managing Director of the Company for a period of 2 years with effect from September 01, 2006, on remuneration, terms & conditions.