Murudeshwar Ceramics - Outcome Of AGM

Murudeshwar Ceramics Ltd has informed that the members at the 24th 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 of the Company as at March 31, 2007, and the Profit and Loss Account for the year ended on the said date together with schedules and notes on accounts, Cash-flow statement and also the Directors Report, Corporate governance report and Auditors Report.

2. Declaration of Dividend at the rate of 20 (Twenty) percent on the fully paid equity share capital of the Company for the year ended on March 31, 2007.

3. Re-appointment of Shri. K Jeevan Shetty, Dr. B Sudesh Hegde & Dr. Sadanand V Nadig, as Directors of the Company.

4. Re-appointment of M/s. M A Narasimhan & Co., Chartered Accountants, Bangalore as Auditors of the Company to hold office from the conclusion of this Annual General Meeting until conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Re-appointment of Shri. Satish R Shetty as Managing Director of the Company for a further period of 5 years effective from June 27, 2007, on remuneration, terms & conditions.

6. Re-appointment of Shri. Naveen R Shetty as Joint Managing Director of the Company for a further period of 5 years effective from June 27, 2007, on remuneration, terms & conditions.