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Resolutions of AGM
Mar 19, 2017 - 07:51PM Company : AL SHARQIA INVESTMENT HOLDING

We wish to inform you that at the Annual General Meeting (AGM) of the shareholders of A’Sharqiya Investment Holding Co. (SAOG) held at 17:00 hours on Sunday, March 19, 2017. The following decisions were approved by the shareholders of the Company:

 Decisions made at the Annual General Meeting

  1. The AGM unanimously approved the Chairman's Report for the financial year ended December 31, 2016
  2. The AGM unanimously approved the Corporate Governance Report for the financial year ended December 31, 2016
  3. The AGM unanimously approved the Auditor’s Report, the Statement of Financial Position and the Statement of Comprehensive Income for the financial year ended December 31, 2016
  4. The AGM approved the Board’s recommendation for distribution of cash dividends to the shareholders at the rate of 5% of the issued capital
  5. The AGM approved the sitting fees availed by the members of the board and members of sub-committees of the board in the financial year ended December 31, 2016 and also approved the proposed sitting fees for the financial year 2017
  6. The AGM was briefed on the related party transactions as per note No. 22 of the Audited Financial Statement for the financial year ended December 31, 2016
  7. The AGM approved the recommendation of the Board of Directors to allocate RO 10,000 (Rial Omani ten thousand) to Omani charities for the financial year 2017
  8. The AGM also elected a new board of directors (uncontested) for a tenure of three years. The new board of directors comprises the following:

 

           -      Dr. Hamed Hashim Al Dhahab                  

           -      Mr. Ahmed Ali Mohammed Al Araimi

           -      Sheikh Saleh Ahmed Mohammed Al Harthy

           -      Mr. Bader Mohammed Rashid Al Fannah Al Araimi

           -      Mr. Mohammed Ali Mohammed Al Fannah Al Araimi

           -      Mr. Ali Hilal Mohammed Al Rashdi

           -      Mr. Subrata Mitra

      9. The AGM appointed KPMG as the company’s statutory auditors for the                     financial  year 2017

     10. The AGM approved the standards of measurement for the Board of Directors’           performance for the year 2017 

     11. The AGM appointed Keynote Services LLC as an independent third party to             measure the Board of Directors’ performance for the year ending December             31, 2017 and also approved their fees