Shell Infotech - Outcome Of AGM

Shell Infotech Ltd has informed that the members at the Annual General Meeting (AGM) of the Company held on September 08, 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 as on date with schedules and the report of the Directors and Auditors thereon.2. Sri. Nitin Kamath is not reappointed as a Director of the Company.3. Appointment of M/s. Shabbir & Associates, Chennai, Chartered accountant firm as auditor of the Company till the conclusion of next Annual General Meeting of the Company, on remuneration, terms & conditions.4. Appointment of Sri. B Satyaprakash & Sri. S G Felix Melkha Singh as Directors of the Company.5. Increased the authorized share capital of the Company to Rs 5,00,00,000 divided into 50,00,000 Equity shares of Rs 10 each from the existing share capital of Rs 1,00,00,000 with power to increase or reduce the capital, to divide the shares as may be determined by or in accordance with the regulations of the Companies Act, 1956 & consequential amendment in the Articles of Association of the Company.6. Authority to the Board to offer, issue and allot Equity shares of Rs 10/- each for cash at par to the equity share holders of the Company whose names appear on the Register of Members on record date to be determined by the Board, on a Rights Basis on the following terms and conditions:a. The Shares shall be issued in the ratio of upto 13 (Thirteen) Equity share for every 1 (One) Equity share held by the Shareholders on record date as may be fixed in consultation with the Stock Exchange.b. The new equity shares shall be subject to the relevant provisions of the Memorandum and Articles of the Association of the Company and shall rank pari passu in respects with the existing equity shares of the Company.