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     Annual General Meeting Resolutions – 31st March 2011

    Apr 03, 2011 08:59 AM
    The shareholders of the Company resolved the following in the Annual General Meeting (AGM) held on Thursday the 31st of March 2011 at 4.00 PM at Haffa House Hotel, Ruwi, and resolved the following:
    1. Approved the Board of Director's Report for the year ended 31st December 2010
    2. Approved the Corporate Governance Report for the year ended 31st December 2010.
    3. Approved the Auditor’s report and the audited Financial Statements for the year ended 31st December 2010.
    4. Approved payment of 5% cash dividend of the paid up capital (5 Baizas per share).
    5. Ratified the sitting fees that has been paid to the Board and it’s sub-committees during the year ended 2010 and approved the sitting fees for the year 2011.
    6. Approved the Related Party Transactions that took place during the financial year 2010.
    7. Appointed KPMG as External Auditors for the financial year 2011.
    8. Approved donations to charitable organizations for a maximum amount of RO 10,000 in the year 2011.
    9. The board of directors of the Company has been elected for a three year period commencing from 31 March 2011, the date of AGM.  As follow
    Dr. Hatem Bin Bakheit Al Shanfari                       Mr. Yasin Bin Abdulaziz Al Onaizy
    Mr. Badar Bin Awadh Badar Al Shanfari              Mr. Salim Bin Taman Musallam Al Maashani
    Mr. K. K. Abdul Razak                                              Mr. Aftab Ahmed Patel
    Mr. Pradeep Asrani           
    After the meeting the Board elected Dr. Hatem Bin Bakheit Al Shanfari as the Chairman and Mr. Yasin Bin Abdulaziz Al Onaizy as Vice Chairman of the Board.