OFFTEC Holding Group General Assembly discusses performance and future plans during annual meeting

: Sunday, May 11 - 2014 @ 13:07

OFFTEC Holding Group (OHG) held its annual Shareholders General Assembly Meeting on Sunday 27 April, 2014, at the Crowne Plaza Amman. Headed by Chairman Mr. Elias Baddour, the Meeting discussed OHG’s performance during 2013 and its future plans for the upcoming period.

During the Meeting, Mr. Baddour announced OHG’s key projects in the pipeline. These include the establishment of a new OFFTEC branch in Erbil, Iraq, in addition to preparations for a new OFFTEC Jordan showroom which is scheduled to be completed by mid-2014.

Furthermore, the Meeting highlighted OHG’s net profits which witnessed a significant 74% increase – before taxes and provisions – compared to the same period during 2013. During the Meeting, the majority of OHG’s shareholders approved the recommendation to purchase treasury shares as opposed to distributing dividends for this year, hence affirming their confidence in the positive impact the Group’s future strategy will yield.

Mr. Baddour thanked OHG’s shareholders for supporting this decision, and commended their invaluable efforts towards growing the Group’s operations, cementing its leading market position and expanding its outreach to deliver its products and services to new regional markets.

For more information, please contact:

Bidaya Corporate Communications
Tel: +962 6 5692008/9
Fax: +962 6 5692007
P.O. Box 930391, Amman 11193, Jordan

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Sunday, May 11- 2014 @ 13:07 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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