Phoenix Power Company SAOG
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 Monday, 19 March 2018 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 3:00 pm, to discuss the following agenda:
1.To consider and approve the Board of Directors’ report for the financial year ended 31 December 2017.
2.To consider and approve the Corporate Governance Report for the financial year ended 31 December 2017.
3.To consider and approve the Auditors’ Report and approval of the financial statements (balance sheet and income statement) for the financial year ended31 December 2017.
4.To notify the General Meeting of the related party transactions during the financial year ended 31 December 2017.
5.To consider and approve the proposed transactions with related parties during the financial year ending 31 December 2018.
6.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 2018 and January 2019 out of the retained earnings as per the audited financial statements for the financial year ended 31 December 2017, provided that the aggregate amount shall not exceed 4.8 % of the paid up share capital of the Company (i.e., 4.8 Baizas per share).
7.To notify the general meeting of the activities of the Company in relation to the Corporate Social Responsibility for the financial year ended 31 December 2017.
8.To allocate an amount of RO. 30,000 as a budget of the Company in relation to the Corporate Social Responsibility for the financial year ending 31 December 2018.
9.To consider and approve the report for the performance appraisal of the Board of Directors carried out during 2017.
10.To appoint an independent consultant to carry out annual appraisal for the performance of the Board of Directors during the financial year ending 31 December 2018.
11.To approve the appointment of Statutory Auditors for the financial year ending 31 December 2018 and.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.