Last checked at 16 May 2017 14:26
May 16, 2017
London Stock Exchange London
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Dear Sirs, Madam,
Re: Outcome of the Board Meeting
The Board of Directors at the meeting held today, i.e. May 16, 2017, inter alia transacted the following business:
1. Financial Results
a) Approved the Audited Standalone and Unaudited Consolidated Financial Results of the Company, for the quarter ended March 31, 2017.
b) Approved the Audited Standalone and Consolidated Financial Results of the Company, for the financial year ended March 31, 2017
Deloitte Haskins & Sells LLP, the Statutory Auditors of the Company have issued auditors' reports with an unmodified opinion on the financial statements.
2. Dividend and 110th Annual General Meeting (AGM)
Recommended a dividend of Rs.10/- per Equity (Ordinary) share of Rs.10/- each to the shareholders for the financial year ended March 31, 2017, subject to the approval of the shareholders at the ensuing AGM of the Company to be held on August 8, 2017.
The dividend, if approved by the shareholders at the AGM, will be paid on and from August 10, 2017.
3. Book Closure
Approved closure of the Register of Members and Share Transfer Books of the Company from Saturday, July 22, 2017 to Tuesday, August 8, 2017 (both days inclusive) for the purpose of AGM and payment of Dividend.
4. Statutory auditors of the Company
In terms of Section 139 of the Companies Act, 2013, the term of Deloitte Haskins & Sells LLP, Chartered Accountants, the current Statutory Auditors of the Company, will end at conclusion of the 110th AGM of the Company.
The Board recommended that Price Waterhouse & Co Chartered Accountants LLP, Chartered Accountants (Firm Registration No. 304026E/E300009), be appointed as the Statutory Auditors of the Company, for a term of 5 years commencing from the conclusion of the 110th Annual General Meeting scheduled to be held on August 8, 2017 till the conclusion of the 114th Annual General Meeting to be held in the year 2022, subject to approval of the shareholders of the Company.
The Board meeting commenced at 11:00 a.m. (IST) and concluded at 5:45 p.m. (IST).
A copy of the said results together with the Auditors' Report and Press Release is enclosed herewith. These are also being made available on the website of the Company at www.tatasteel.com.
http://www.rns-pdf.londonstockexchange.com/rns/3208F_-2017-5-16.pdf
This is for your information and record.