Resolutions passed at AGM

4 Jun 2007 07:00

UTI Bank Limited01 June 2007 Sub: UTI Bank Limited - Resolutions passed by shareholders at AGM held on 1stJune, 2007 At the Annual General Meeting held today at Ahmedabad the following resolutionswere passed by the shareholders of the Bank : 1. Shri Surendra Singh, Dr. R. H. Patil and Smt. Rama Bijapurkar retired by rotation and were reappointed as Directors. 2. Payment of dividend at @45% (i.e. Rs. 4.50 per equity share). The Dividend arrants will be dated and payable from June 2, 2007. 3. M/s S. R. Batliboi & Co. were reappointed as the Statutory Auditors of the Bank for the year 2007-08. 4. To revise the remuneration payable to Shri P. J. Nayak as Chairman and Managing Director w.e.f. 1st April, 2007. 5. To change the name of the Bank from "UTI Bank Limited" to "Axis Bank Limited" and to make necessary changes in the Memorandum and Articles of Association and other documents to that effect. 6. To alter the Articles of Association in respect of appointment of whole-time Chairman of the Bank. This amendment to the Articles of Association will be effective from 1st August, 2007. 7. In accordance with Section 10-B of the Banking Regulation Act, 1949 and subject to approval by Reserve Bank of India, to appoint Shri. P. J. Nayak as the whole-time Chairman of the Bank for the period 1st August, 2007 to 31st July, 2009. 8. Subject to approval of Reserve Bank of India, to approve remuneration payable to Shri P. J. Nayak as the whole-time Chairman of the Bank w.e.f 1st August, 2007. This information is provided by RNS The company news service from the London Stock Exchange