Vedanta Limited announces interim dividend

Vedanta Limited

Vedanta declares Record Interim Dividend of Rs. 6,580 Crore

The Board of Directors of the Company have approved the second Interim Dividend of Rs.17.70 per equity share i.e. 1770 % on face value of Re.1/- per share for the Financial Year 2016-17. The record date for the purpose of payment of dividend is Wednesday, April 12, 2017.

Further, the Board has also approved dividend of Rs.17.70 per equity share to shareholders of Cairn India Limited, who will become shareholders of the Company pursuant to the Scheme of Arrangement between Vedanta Limited and Cairn India Limited ("Scheme"). The dividend would be paid to the Cairn India Limited shareholders as on a Record date to be fixed after the Scheme becomes effective.

Vedanta Limited

Changes to the composition of the Board of Directors

The Board of Directors of the Company at their meeting held today, have considered and approved:

1. Re-appointment of Mr. Thomas Albanese, Whole-Time Director & Chief Executive Officer for a further period till August 31, 2017 subject to approval of Shareholders in the next General Meeting;

2. Appointment of Mr. K Venkataramanan as an Additional Director and Non-Executive Independent Director (Additional Director) on the Board of the Company for a period of 3 years w.e.f. April 1, 2017 to hold office till the ensuing Annual General Meeting of the Company.

3. Resignation of Ms. Anuradha Dutt, Non-Executive Independent Director from the Board of the Company w.e.f. March 31, 2017 due to other commitments

Vedanta Limited announced that the Board of Directors in their meeting on 30th March 2017 approved the appointment of Mr K. Venkataramanan as an Independent non-executive director with effect from April 1, 2017.

Mr Venkataramanan was CEO & Managing Director, Larsen & Toubro Limited (L&T) from April, 2012 and also served on the L&T Board from May, 1999 until his retirement in September, 2015.

Mr Venkataramanan, in his four decades of experience at Larsen & Toubro has spearheaded the company's foray in the world of E&C, strengthened every aspect of EPC value chain and transformed L&T to one of the respected names in the global EPC fraternity.

Mr Venkataramanan's induction will help broaden the diversity of the Vedanta Board, and add considerable expertise particularly in the areas of hydrocarbons and large scale project management.

Mr Navin Agarwal, Chairman of Vedanta Limited, said "I am delighted to welcome KV to our Board. His unparalleled strength and global experience in our sector will support our delivery of the next phase of growth at Vedanta, and I look forward to his significant contributions to the board."

Mr. Venkataramanan said "I am excited to be joining the Board of Vedanta Limited, a company which has excelled in the Indian natural resources sector. It will be my endeavour to effectively participate in Vedanta's journey of achieving excellence in the sector."

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About Vedanta Resources

Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland, Liberia and Australia. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. For more information, please visit www.vedantaresources.com.

Disclaimer

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. 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. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and/or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.