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 Resolutions of Annual General Meeting held on 28th March 2017

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:

 

  1. Approved the Board of Director's Report for the year ended 31st December 2016.
  2. Approved the Corporate Governance Report for the year ended 31st December 2016.
  3. Approved the Auditors Report and the audited Balance Sheet and Profit and Loss Statement for the year ended 31st December 2016.
  4. 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.
  5. Approved the Related Party Transactions that took place during the financial year 2016.
  6. 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.
  7. 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          

 

  1. Appointment of Ernst and Young as External Auditors for the financial year 2017 at total fees of RO 7,500.
  2. Approved the performance criteria of Board of Directors.
  3. 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.