Kovai Medical - Outcome Of AGM

Kovai Medical Center & Hospital Ltd has informed that the members at the 21st Annual General Meeting (AGM) of the Company held on September 28, 2007, inter alia, have accorded the following:

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

2. Declaration of dividend @ 12.5% (i.e. Rs 1.25 per share) on the equity capital of the Company for the year ended March 31, 2007.

3. Re-appointment of Dr. P R Perumalswami, Mr. Kasi K Goundan & Dr. Mohan S Gounder, as Directors of the Company.

4. Appointment of M/s. Sun & Co., Chartered Accountants, Coimbatore, as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Authority to the Board to mortgage and / or charge all or any of the movable or immovable properties of the Company, wheresoever situate, both present and future or the whole or substantially the whole of the undertaking or undertakings of the Company in favour of any financial institutions, banks and others for securing the credit facilities sanctioned / to be sanctioned by them to the Company, provided however that the aggregate amount of credit facilities which may be secured hereunder and outstanding at any time shall not exceed the sum of Rs 250 Crores (Rupees Two hundred and fifty Crores only) excluding the temporary loans obtained from the Companys Bankers in the ordinary course of business, subject to necessary provisions & approvals.