Resolution to the Ordinary Annual General Meeting of Phoenix Power Company SAOG
Phoenix Power Company SAOG (the “Company”) is pleased to advise the Capital Market Authority, the Muscat Stock Exchange and the investor community that the Ordinary Annual General Meeting (AGM) of the Company was held on Monday online on 18 March 2024. The following resolutions were passed unanimously at the AGM:
1. Approval of the Board of Directors’ report for the financial year ended 31 December 2023.
2. Approval of the Corporate Governance Report for the financial year ended 31 December 2023.
3. Approval of the Auditors’ Report and financial statements (balance sheet and income statement) for the financial year ended 31 December 2023.
4. approve the proposal authorizing the Board of Directors’ to determine and distribute cash dividends to the Company’s Shareholders (who are registered with the MCDC as of the dates to be decided by the Board of Directors) in July 2024 and January 2025 out of the retained earnings as per the audited financial statements for the financial year ended 31 December 2023, provided that the aggregate amount shall not exceed 5.25 Baizes per share after obtaining no objection from Lenders.
5. The shareholders were notified regarding the related party transactions during the financial year ended 31 December 2023.
7. Approval to allocate of an amount of RO. 50,000 in relation to the Corporate Social Responsibility for the financial year ending 31 December 2024.
8. Approval to appointment an independent consultant to carry out annual appraisal for the performance of the Board of Directors for the financial year ending 31 December 2024 and determine their remuneration.
9. Election of the following persons as members in the new Board of Directors for a terms of 3 years
|
Shareholder/ non-shareholder |
Description (Independent / Non-Independent |
Name |
|
|
|
Non-Shareholder |
Independent |
Mr. Naohiro Aoki
|
1 |
|
|
Non-Shareholder |
Independent |
Ahmed Mahmood AbdulAti Ibrahim |
2 |
|
10. Approval to appointment a statutory auditor for the financial year ending 31 December 2024 and determine their remuneration.
_________________________
Ahmed AL Abri
Chief Financial Officer / Disclosure Officer