The Board of Directors of PHONEIX POWER COMPANY SAOG (the “Company”) has the pleasure to invite the shareholders to attend the Annual General Meeting, which will be held at 03:00 PM on 22/03/2021, via the electronic platform to hold general meetings which can be assessed through the website of Muscat Clearing & Depository Company (www.mcd.gov.om). If the quorum requirement for holding the Annual General Meeting is not fulfilled, a second Annual General Meeting shall be held at 03:00 PM on 29/03/2021, to discuss the following agenda:
1. To consider and approve the Board of Director’s Report for the financial year ended 31 December 2020.
2. To consider and approve the Corporate Governance Report for the financial year ended 31 December 2020.
3. To consider the Auditor’s Report and to approve the Financial Statements (Balance Sheet and Profit and Loss Account) of the Company for the financial year ended 31 December 2020.
4. To notify the General Meeting of the related party transactions during the financial year ended 31 December 2020
5. To 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 2021 and January 2022 out of the retained earnings as per the audited financial statements for the financial year ended 31 December 2020, provided that the aggregate amount shall not exceed 4.15 Baizas per share after obtaining no objection from Lenders
6. To consider the amounts allocated and spent for the company’s social responsibilities for the year ended on 31/12/2020.
7. To discuss and approve the proposed allocation of RO 30,000 to fulfill the Company’s Corporate Social responsibilities for the year ending on 31 December 2021.
8. To appoint an independent entity to evaluate the performance of the Board of directors for the fiscal year ending on December 31, 2021, and determine their fee.
9. To appointment of Statutory Auditors for the financial year ending 31 December 2021 and determine their remuneration
According to the Company's Articles of Association and the controls for holding General Meetings using modern technology issued by the capital market authority, we would like to draw your attention to the following:
1. Legal person, exclusively, has the right to delegate a natural person to attend the General Meeting and vote on its behalf through technical means, provided that this natural person has an investor number in MCDC.
2. Voting on any of the agenda items begins no more than three days before the date of the General Meeting until the voting process ends on the day of the General Meeting. If the shareholder’s shares are increased or decreased, the voting process will be canceled, and the shareholder will have to vote again on the day of the General Meeting.
For further information, please contact Mr. Ahmed Al Abri on telephone no. (+968) 22009973.
Chief Financial Officer / Disclosure Officer