Astec Lifesciences appoints audit committee member

Astec Lifesciences has informed that the board of directors of the company at its meeting held on May 28, 2012, has recommended the appointment of Mandar K Patil as a member of audit committee for the approval of board of directors with effect from May 27, 2012 and a dividend of fifty paise per share (i.e. 5% on the face value of Rs 10 each) for the approval of the shareholders at the ensuing annual general meeting.

Further the board appointed Mandar K Patil as Non-Executive & Independent Director on the board of the company and member of audit committee with effect from May 27, 2012.

The above information is part of company’s filing submitted to the BSE.