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    GULF INVEST SERVICES HOLDING

     Resolutions of Annual General Meeting held on 31st March 2014

    Apr 01, 2014 09:26 AM
    The shareholders of the Company resolved the following in the Annual General Meeting (AGM) held on Monday the 31st of March 2014 at 5.00 PM at Haffa House Hotel, Ruwi, and resolved the following:
     
    1. Approved the Board of Director's Report for the year ended 31st December 2013
    2. Approved the Corporate Governance Report for the year ended 31st December 2013.
    3. Approved the Auditor’s report and the audited Financial Statements for the year ended 31st December 2013.
    4. Approved payment of cash dividend  at the rate of 15% of the nominal value of fully paid up share (15 baize per share)
    5. Approved the remuneration payable of RO 119,000 to the members of the Board for the year 2013. 
    6. Ratified the sitting fees that have been paid to the Board and its sub-committees during the year ended 31st December 2013 and determined the sitting fees for the current year 2014.
    7. Approved the Related Party Transactions that took place during the financial year 2013.
    8. Approved donations to charitable organizations up to a maximum amount of RO 25,000 for the year ended 31st December 2014 and authorized the Board of Directors to pay the same.
    9. The board of directors of the Company has been elected for a three year period commencing from 31 March 2014, the date of AGM, as follow
     
    Dr. Hatim  Bakhit Said Al Shanfari            Mr. Yasin Abdulaziz Ahmed Al Onaizy
    Mr. Badar Awadh Badar Al Shanfari         Mr. Salim Taman Musallam Al Maashani
    Mr. K. K. Abdul Razak                                  Mr. Himansu Mohapatra
    Mr. Pradeep Asrani     
     
    After the meeting the Board elected Dr. Hatim Bakhit Said Al Shanfari as the Chairman and Mr. Yasin Abdulaziz Ahmed Al Onaizy as Vice Chairman of the Board.
     
    1. Appointed KPMG as External Auditors for the financial year 2014.
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