Jai Corp - Outcome Of AGM

Jai Corp Ltd has informed that the members at the 22nd Annual General Meeting (AGM) of the Company held on September 14, 2007, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet as at March 31, 2007 and the Profit and Loss Account for the year ended on that date together with the Reports of the Directors and the Auditors thereon.

2. Re-appointment of Shri Satya Pal Jain, Shri Sandeep H Junnarkar & Dr. Pravin P Shah, as Directors of the Company.

3. Appointment of M/s Chaturvedi & Shah, Chartered Accountants, as Statutory Auditors of the Company from the conclusion of this Meeting until the conclusion of next Annual General Meeting of the Company on remuneration, terms and conditions.

4. Appointment of Shri Virendra Jain as Managing Director of the Company for a period of 5 years with effect from January 04, 2007, on remuneration, terms and conditions.

5. Appointment of Shri V S Pandit as Director Works of the Company for a period of 5 years with effect from April 01, 2007, on remuneration, terms and conditions.

6. Sub-division of each equity shares of the Face Value of Rs 10/- each of the company into 10 equity shares of the face value of Rs 1/- each and sub-divided authorized share capital of the Company increased & reclassified from Rs 25,00,00,000/-, divided into 2,00,00,000 equity shares of Rs 10/- each, 1% 15,000 Non-Cumulative Non-Participating Redeemable Preference Shares of Rs 100/- each and 4,85,000 unclassified shares of Rs l00/- each to Rs 50,00,00,000 divided into 45,00,00,000 equity shares of Re 1/- each and 1% 15,000 Non-Cumulative Non-Participating Redeemable Preference Shares of Rs 100/- each and 4,85,000 unclassified shares of Rs 100/- each with power to the Board to decide on the extent of variation in such rights and consequential amendments in the Memorandum & Articles of Association of the Company.