Annual General Meeting Resolutions

Annual General Meeting Resolutions


The Annual General Meeting (“AGM”) of Oman Refreshment Company SAOG (“ORC”) was held at 3 pm on Tuesday 3rd March 2015 at Al Falaj Hotel, Ruwi. Besides the esteemed shareholders of the Company, the AGM was attended by the CMA delegate, in addition to the representatives of Legal Advisors & Statutory Auditors of the Company. The percentage of shares represented in the meeting amounted to 67.29%. The following resolutions were passed in the AGM:

  1. Approval of the report of Board of Directors for the financial year ended on 31st December 2014.
  2. Approval of the Report on Corporate Governance for the financial year ended on 31st December 2014.
  3. Approval of the Auditors’ report, Consolidated Statement of Financial Position and Consolidated Statement of Comprehensive Income for the year ended on 31st December 2014.
  4. Approval of proposed cash dividend at the rate of 100% (being 100 Baizas per each share) of the paid up share capital of the Company.
  5. Approval of the sitting fees availed by the members of the Board of Directors and members of the Board’s sub-committee for the financial year 2014 and the shareholders have also specified the sitting fees for the next financial year 2015.
  6. Approval of the Directors remuneration of RO 163,600 being availed by the members of the Board of Directors for the financial year 2014.
  7. Approval of the related party transactions during the financial year ended 31st December 2014.
  8. Approval of the transactions & contracts which will be entered into with related parties during 2015.
  9. The amounts paid/committed for Corporate Social Responsibility programs during the financial year 2014 were brought to the attention of the Shareholders.
  10. Approval of RO 100,000 for Corporate Social Responsibility programs, which shall be used out of 2015 profits.
  11. The following persons were elected unanimously to the Board of Directors for a new term of 3 years 2015-2018:

S No

Name

Representing

Director Category

1

Buti Obaid Al Mulla

Mohamed & Obaid Al Mulla LLC

Non-independent

2

Ahmed Mohamed Bin Omeir Al Hinai

Self

Non-independent

3

Hamoud Ahmed Mohamed Al Hinai

Self

Non-independent

4

Mana Mohamed Al Mulla

Self

Independent & Non-shareholder

5

Mohamed Abdullah Moosa Al Raisi

Self

Independent

6

Ali Humaid Al Owais

Self

Independent

7

Mohamed Abdul Aziz Al Owais

Self

Independent& Non-shareholder

 

12. Ernst & Young were appointed as statutory auditors for the financial year ended December 31, 2015 and their proposed fee was approved.

 

Since there were no other matters to be deliberated in the meeting, the meeting concluded its business thereafter.

 

 

Buti Obaid Al Mulla

Chairman of AGM

Muscat Exchange News Contribution Time: 04-Mar-2015 05:13 (GMT)

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