The Board of Directors of Phoenix Power Company SAOG (the “Company”) have the pleasure to invite the respected shareholders to attend the Ordinary Annual General Meeting (“AGM”) of the Company to be held on Thursday, 31 March 2016 at Al Bahja Hall next to Jungle Restaurant and Rose Garden, situated at Building No. 9, Way No. 58, Al Qurm, Sultanate of Oman, at 5:00 pm, to discuss the following agenda:
1. To consider and approve the Board of Directors’ report for the financial year ended 31 December 2015.
2. To consider and approve the Corporate Governance Report for the financial year ended 31 December 2015.
3. To consider and approve the Auditors’ Report and approval of the financial statements (balance sheet and income statement) for the financial year ended 31 December 2015.
4. To notify the General Meeting of the related party transactions during the financial year ended 31 December 2015, as set out in Annexure (1).
5. To consider and approve the proposed transactions and contracts with related parties during the financial year ending 31 December 2016, as set out in Annexure (2).
6. To authorize 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 2016 and January 2017 out of the retained earnings as per the audited financial statements for the financial year ended 31 December 2015, provided that the aggregate amount shall not exceed 7.9 % of the paid up share capital of the Company (i.e., 7.9 Baizas per share).
7. To approve the appointment of Statutory Auditors for the financial year ending 31 December 2016 and determine their remuneration.
According to the Articles of Association, the Shareholders shall have the right to nominate a proxy to attend and vote on their behalf on decisions/resolutions of the meeting, such proxy must be on the proxy form attached herewith. The natural shareholder shall enclose a copy of the ID card, or the passport copy for females and minors who don’t have an ID card, residence card or passport copy for non-Omanis along with the proxy form. The juristic shareholder’s proxy must be signed by an authorized signatory and sealed with entity’s stamp, and should be submitted along with a commercial registration certificate and the authorized signatories list.
Respected shareholders are requested to attend at the AGM venue half an hour before the meeting.
For further information, please contact
Mr. Kenji Yugeta on telephone no.(+968) 22009968.