Arrow Webtex - Outcome Of AGM

Arrow Webtex Ltd has informed that the members at the 16th Annual General Meeting (AGM) of the Company held on September 29, 2007, inter alia, have accorded to the following:

1. Adoption of the Balance Sheet as at and the Profit & Loss Account for the year ended March 31, 2007 together with the Annexures thereto and the reports of the Directors and Auditors thereon.

2. Declaration of dividend @ 50% on the 1,05,04,785 Equity Shares of Rs 10/- each and @ 8% on the 1,22,38,535 Preference Shares of Rs 10/- each, fully paid up for the financial year ended March 31, 2007.

3. Appointment of M/s. Amit Desai & Co., Mumbai as Auditors of the Company from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting of the Company on remuneration, terms & conditions.

4. The number of directors of the Company be increased to nine.

5. Appointment of Mr. Jaydev M Mody, Mr. Rajeev Piramal, Ms. Ambika Kothari, Mr. Aditya Managaldas, Mr. Mahesh Gupta, Mr. Vrajesh Udani, Mr. Aurobind Patel & Mr. Ramesh Jaggi as Directors of the Company, liable retire by rotation.

6. Appointment of Mr. Chand V Arora as the Managing Director of the Company with effect form April 01, 2005 for a term of 5 (five) years on remuneration, terms and conditions.