GOA, India--(BUSINESS WIRE)--Pursant to Listing Agreement, Sesa Goa Limited informs you that the Board of Directors at their meeting held today has taken the following decisions:
|1.||Appointed Mr. Anil Agarwal as the Chairman of the Company with immediate effect.|
|2.||Appointed Mr. Navin Agarwal as Executive Vice Chairman with immediate effect.|
|3.||Appointed Mr. Mahendra Singh Mehta as Wholetime Director designated as Chief Executive Officer with immediate effect.|
|4.||Accepted resignation of Mr. Amit Pradhan as Director and Wholetime Director with effect from 18th August, 2013|
|5.||Approved change in designation of Mr. P.K. Mukherjee from Managing Director to Executive Director – Iron Ore Business with immediate effect.|
Sesa is India’s leading producer and exporter of iron ore in the private sector with operations in the states of Goa and Karnataka in India and a large integrated project site in Liberia, West Africa. Founded in 1954, for about 6 decades, Sesa has been involved in iron ore exploration, mining, beneficiation and exports. Sesa is a part of Vedanta Resources plc, the London-listed FTSE 100 diversified metals and mining major. Sesa also manufactures pig iron and metallurgical coke, with a 0.56 mtpa metallurgical coke plant and a 0.625 mtpa pig iron plant in Goa, and associated two power plants of 30 MW each.
This press release contains “forward-looking statements” – that is, statements related to future, not past, events and may be interpreted as ‘forward looking statements’ within the meaning of applicable laws and regulations. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking statements by their nature address matters that are, to different degrees, uncertain. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the company’s operations include a downtrend in the steel, pig iron & met coke industry – global or domestic or both, significant changes in political, economic, business, competitive or regulatory environment in India or key markets abroad and from numerous other matters of national, regional & global scale including but not limited to natural calamity, tax laws, litigations, Government policies & regulations, fluctuations in interest and or exchange rates of Indian Rupee, etc. Any forward-looking information in this press release has been prepared on the basis of a number of assumptions, which may prove to be incorrect. This press release should not be relied upon as a recommendation or forecast by Sesa Goa Ltd. The views expressed herein may contain information derived from publicly available sources that have not been independently verified; no representation or warranty is made as to the accuracy, completeness or reliability of this information. We do not undertake to update our forward-looking statements.