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     Significant Board Decisions

    Apr 26, 2016 06:53 PM

    In conformity with the code of corporate governance issued by the circular No. (4/2015) and according to the Board’s concern to comply with the rules and regulations of that code, the Board of Directors has taken the following important resolutions in its meeting held on 26/4/2016 at 4:00pm:

    1. The Board studied and approved the strategies and the charters as required by the new code.

    2. The Board formed the Nomination and Remuneration Committee and determined its charters, roles and responsibilities. The Board also decided to merger the Executive Committee in the above mentioned Nomination and Remuneration Committee. The members of the Nomination and Remuneration Committee are as the following:
    • Sayyid Salim Bin Nassir Al Busaidi – The Chairman
    • Mr. Saud Bin Ahmed Al Nahari – Deputy Chairman
    • Mr. Ahmed Bin Alawi Abdullah - Member
    • Mr. Rahul Kar - Member

    3. In conformity with the fifth principle item No. (1) at the paragraph (c) that reads the company secretary should not be a related party, therefore  Mr. Abdullah Ali Al Qassab was designated as the Company Secretary with effect from the date of Board Meeting.

    4. The Board resolved to assign Sayyid Nassir bin Salim Al Busaidi (Managing Director) and Mr. R. Muthukumar as the Spokes Persons of the company.

    5. The Board resolved to assign Mr. Maher Mohammed Amin as the Disclosure Officer.