Kanishk Steel - Outcome Of AGM

Kanishk Steel Industries Ltd has informed that the members at the 17th 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 on March 31, 2007, Profit &Loss Account for the year ended March 31, 2007, Auditors Report and the Directors Report.2(a) Confirmation of interim dividend of 4% i.e. Rs 0.40 per share for the financial year 2006-07.(b) Declaration of Final Dividend of 6% i.e. Rs 0.60 per share for the financial year 2006-07.3. Re-appointment of Mr. Ashok Bohra as Director of the Company.4. Appointment of M/s. Chaturvedi and Company, Chartered Accountants, Chennai, as Statutory Auditors of the Company from the conclusion of the 17th AGM to the conclusion of the 18th AGM of the Company, on remuneration, terms & conditions.5. Authority to the Board to issue / offer and allot in the course of offer in one or more markets. equity shares, convertible bonds, securities partly or fully convertible into equity shares and / or securities linked to Equity Shares and / or any instruments or securities with or without detachable warrants or such other types of securities representing either equity shares or convertible securities inc Foreign Currency Convertible Bonds, ADRs / GDRs (Securities) as the Company may be advised to individuals, companies, financial institutions, mutual funds, foreign institutional investors, overseas corporate bodies etc. in one or more tranches by preferential issues or public issues as may be deemed appropriate by the Board for an amount not exceeding Rs 200 Cores (Two Hundred Cores) on such terms and conditions a the Board may in its discretion think fit in consultation with the lead manage including the form and the terms of the issue and the persons to whom such securities may be issued and all other terms and conditions and matters connected therewith and deemed appropriate by the Board, subject to necessary provisions & approvals.