Loyal Textile Mills Ltd has informed that the members at the 61st Annual General Meeting (AGM) of the Company held on August 27, 2007, inter alia, have accorded to the following:
1. Adoption of the Audited Balance Sheet as at March 31, 2007 and the Profit andLoss Account for the year ended as on that date together with the Directors Report andAuditors Report thereon.
2. Declaration of dividend at the rate of Rs. 3.90 per share (39%) on the equity shares of the Company of the Company for the year ended March 31, 2007.
3. Re-appointment of Mr. KJM Shetty & Mr. S Venkataramani as Directors of the Company, liable to retire by rotation.
4. Re-appointment of M/s. Suri & Co., Chartered Accountants, Madurai, as the auditors of the Company to hold office until the conclusion of the next Annual General Meeting of the Company on remuneration, terms & conditions.
5. Appointment of Mr. R Poornalingam, Mr. Shridhar Subrahmanyam as Directors of the Company, liable retire by rotation.
6. Re-appointment of Mr. Manikam Ramaswami as Chairman and Managing Director of the Company for a period of 5 years from June 01, 2008 to May 31, 2013, on remuneration ,terms and conditions.
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