AGM resolutions for Raysut Cement Company(SAOG)
Date Posted
: 27/03/2008
Source
: RCC
With reference to the Annual General Meeting of Raysut Cement Company (SAOG) which was held on Thursday 27th March 2008.
We would like to inform you that the following resolutions were passed in the meeting:
1-The shareholders approved the Board of Directors Report for the financial year ending 31st December 2007.
2- The shareholders approved the Corporate Governance Report for the financial year ending 31st December 2007.
3- The shareholders approved the Auditors Report, the Profit and loss Account, and the Balance sheet for the financial year ending 31st December 2007
4- The shareholders approved the Board of Directors recommendation to distribute cash dividends at the rate of 100% of share capital of the company (being 100 Baisa per share).
5- The shareholders approved the sitting fees of the Directors and Audit committee for the previous year and fix the sitting fees for the next financial year ending 31st December 2008.
6- The shareholders approved the Board of Directors’ remuneration of RO 185.600 for the financial year 2007.
7- The shareholders approved donations to be paid by Board of Directors at a maximum of about RO.50000.And approved the donation paid during 2007.
8- The shareholders approved the Related party Transaction for the financial year ending 31st December 2007 .
9- The shareholders approved the proposed Related Party Transaction during the financial year ending 31st December 2008 .
10- The shareholders appoint M/S Deloitte & Touche (M.E)to Audit the financial statements for the year ending 31st December 2008 and fix their fees.
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