Amongst several decisions approved the appointment of new directors was announced.
The new directors were names as Mr. Salim al Raisi, Murtada bin Ahmed Sultan, Salah bin Hilal bin Nasser al Mawali and Muammar bin Abdullah Al Rawas.
The following decisions were also approved at the AGM held on 27 September 2007.
1. Board of Director’s report for the year ended 30th June 2007.
2. Code of Corporate Governance Report for the year ended 30th June 2007.
3. Balance Sheet and the Profit & Loss account for the year ended 30th June 2007.
4. Cash dividend of 20% of the paid up capital to shareholders (i.e. RO. 0/200 per share)
5. Sitting fees for the Board of Directors and subcommittees during the financial year ended 30 June 2007 and determine the sitting fees for the next year.
6. Directors remunerations of RO 147,000 for the year ended 30th June 2007.
7. Transactions carried out with related parties during the financial year ended 30 June 2007.
8. Transactions that will be carried out with related parties during the next financial year ending 30 June 2008.
9. Donation in the amount of RO 25,000 paid to Oman Charitable Organization towards “Gonu” cyclone.
10. New directors appointed were: i) Mr. Salim al Raisi ii) Murtada bin Ahmed Sultan iii) Salah bin Hilal bin Nasser al Mawali iv) Muammar bin Abdullah Al Rawas
11. KPMG were appointed Statutory Auditors for the financial year ending 30th June 2008.
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