News Details

Print| Email
Back

Company News

NOTICE OF ANNUAL GENERAL BODY MEETING – 28.3.2017
Mar 12, 2017 - 09:08AM Company : MUSCAT FINANCE

Notice is hereby given that the Annual General Body Meeting (AGM) of the shareholders of Muscat Finance will be held at 3:00 p.m., on March 28, 2017, at the Capital Market Authority Hall, Ruwi to discuss the following agenda.

1. To consider and approve the report of the Board of Directors of the Company for the year ended December 31, 2016.

2. To Consider and approve the reports on Corporate Governance for the year ended December 31, 2016.

3. To consider the Auditors report and approve the financial statements (Balance Sheet and Profit & loss Account) of the company for the year ended December 31, 2016.

4. To consider and approve the proposed Cash Dividend of 10% for the shareholders of the capital (equivalent to Baizas 10 per share).

5. To consider and approve the proposed stock dividend of 7 % of the capital (equivalent to 7 shares for each 100 Shares). This will result in an increase in the paid up share capital of the company from the present 266,715,579 shares to 285,385,670 shares.

6. To consider and approve the sitting fees for the Directors and the Sub-Committees for the year ended December 31, 2016 and consider and approve sittings fees for the year 2017.

7. To consider and approve the proposed Directors’ Remuneration of R.O 113,000 for the year ended December 31, 2016.

8. Consideration and approval of transactions and contracts entered into with related parties, for the year 2016.

9. Consideration of transactions and contracts, which the company may enter into with, related parties in the year 2017.

10. To notify the charity expenses for the year 2016.

11. To consider a budget of R.O 45,000 for the year 2017 towards charitable expenses.

12. Election of the Board of Directors consisting of 8 members.

13. To approve the criteria to appraise the performance of the Company’s Board of Directors.

14. To appoint an independent firm to appraise the performance of the Company’s Board of Directors and its members for the year ending on December 31, 2017.

15. Appointment of auditors for the company and determination of their remuneration for the financial year 2017.

 


Any person wishing to nominate himself/herself to the Board of Directors may fill out the nomination form that may be obtained from the Company. The completed form should be delivered to the Company 2 working days prior to the Annual General Meeting, no later than 23rd March 2017. Any nomination form delivered after the aforesaid deadline shall not be accepted.


Please come to the meeting venue at least half an hour before the meeting.

In case of any query about the AGM Please contact Mr. Baqir Mohsin Abdul Latif Telephone : 24625300 Ext. 309– Fax : 24625310.

Legal Advisor                               Auditors                                  Chairman