The shareholders of the Company resolved the following in the Annual General Meeting (AGM) held on Tuesday the 28th of March 2017 at 3.00 PM at Haffa House Hotel, Ruwi, and resolved the following:
- Approved the Board of Director's Report for the year ended 31st December 2016.
- Approved the Corporate Governance Report for the year ended 31st December 2016.
- Approved the Auditors Report and the audited Balance Sheet and Profit and Loss Statement for the year ended 31st December 2016.
- Ratified the sitting fees that have been paid to the Board and its sub-committees during the year ended 31st December 2016 and determined the sitting fees for the current year 2017.
- Approved the Related Party Transactions that took place during the financial year 2016.
- Approved contribution to appropriate social causes as part of company’s social responsibility up to a maximum amount of RO 10,000 for the year ending 31st December 2017, and authorize the board to pay as appropriate.
- The board of directors of the Company has been elected for a three year period commencing from 28th March 2017, the date of AGM, as follows
Dr. Hatim Bakhit Said Al Shanfari Mr. Yasin Abdulaziz Ahmed Al Onaizy
Mr. Salim Taman Musallam Al Maashani Sheikh Saoud Majid Saoud Al Qasimi
Sheikh Haitham Awadh Bakhit Al Amri Mr. Sridhar Ganesan Panchapagasan
Mr. Himansu Mohapatra
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.
The following members have been nominated for the sub committees
Audit Committee:
Mr. Salim Taman Musallam Al Maashani Chairman
Mr. Himansu Mohapatra Member
Sheikh Haitham Awadh Bakhit Al Amri Member
Investment Committee:
Mr. Sridhar Ganesan Chairman
Sheikh Saoud Majid Saoud Al Qasimi Member
Sheikh Haitham Awadh Bakhit Al Amri Member
Mr. Himansu Mohapatra Member
Nomination and Remuneration Committee:
Dr. Hatim Bakhit Said Al Shanfari Chairman
Sheikh Saoud Majid Saoud Al Qasimi Member
Mr. Yasin Abdulaziz Ahmed Al Onaizy Member
- Appointment of Ernst and Young as External Auditors for the financial year 2017 at total fees of RO 7,500.
- Approved the performance criteria of Board of Directors.
- Appointment of Keynote Services LLC as an independent consultant to measure the performance of Board of Directors for the year ending 31/12/2017 at total fees of RO 2,000.