Phoenix Power Company SAOG (the “Company”) advises the Financial Services Authority, the Muscat Stock Exchange and the investors’ community that it has resolved the following at the meeting of the Board of Directors held on 24 February 2025:
1. Approval of the financial statements audited for the year ended 31 December 2024 together with the Board of Directors’ Report, Management Discussion and Analysis Report and the Corporate Governance Report.
2. Ratification of the related party transactions in 2024.
3. Approval of the related party transactions in 2025.
4. Request the Shareholders in forthcoming AGM to authorize the Board of Directors to determine and distribute cash dividends to the Shareholders of the Company (who are registered with the MCDC as of the dates to be decided by the Board of Directors) in July 2025 and January 2026 out of the retained earnings as per the audited financial statements for the year ended 31 December 2024, provided that the aggregate amount shall not exceed 5.50 Baizas per share.
5. Approval of the agenda of the annual general meeting of the Company on 18 March 2025.
_________________________
Ahmed Zahir AL Abri
Chief Financial Officer / Disclosure Officer