Orient Paper - Outcome Of AGM

Orient Paper & Industries Ltd has informed that the members at the Annual General Meeting (AGM) of the Company held on July 13, 2007, inter alia, have accorded to the following:

1. Adoption of the Directors Report and the Audited Accounts of the Company for the year ended March 31, 2007.

2. (i) Declaration of dividend @ 12% on 20,00,000 Redeemable Cumulative Preference Shares of Rs 100/- each for the period from January 01, 2007 to March 31, 2007.

Further resolved that, confirmation of Interim Dividend @ 12% on 20,00,000 Redeemable Cumulative Preference Shares of Rs 100/- each for the period upto December 31, 2006.

(ii) Declaration of Final Dividend Rs 6/- per Equity share (60%) on 1,48,37,290 Equity shares of Rs 10/- each for the year 2006-07.

Further resolved that, confirmation of Interim Dividend @ Rs 4/- per (40%) on 1,48,290 Equity Shares.

3. Re-appointment of Shri. A Ghosh, Shri. B K Jhawar as Directors of the Company.

4. Appointment of M/s. S R Batliboi & Company, Chartered Accountants, Kolkata, as Auditors of the Company until the conclusion of the next Annual General Meeting of the Company on remuneration, terms and conditions.

5. Revision in the remuneration payable to Shri. M L Pachisia, Managing Director of the Company w.e.f. April 01, 2007 till September 22, 2008, on terms & conditions.