Vimta Labs - Outcome Of AGM

Vimta Labs Ltd has informed that the members at the 17th Annual General meeting (AGM) of the Company held on August 09, 2007, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet as on March 31, 2007 and Profit & Loss Account for the year ended March 31, 2007 together with Schedules thereto and Notes forming part of the accounts, Cash Flow Statement and Directors Report, Auditors Report thereon.

2. Declaration of dividend of 40% i.e. 0.80 paisa per equity share of Rs 2/- each for the financial year 2006-07.

3. Re-appointment of Dr. Subha Rao Pavuluri, as a Director of the Company, liable to retire by rotation.

4. Appointment of M/s. Sarathy & Balu, Chartered Accountants, Hyderabad as Auditors of the Company to hold office from the conclusion of this Meeting upto conclusion of the next Annual General Meeting of the Company on remuneration terms & conditions.

5. Appointment of Professor. K Ramachandran as a Director of the Company, liable to retire by rotation.

6. Remuneration payable to Dr. S P Vasireddi - Managing Director, V V Prasad- Executive Director, V Harriman - Director Technical and Harita Vasireddi - Director Quality for a period of three years effective from April 01, 2005.