Port Services Corporation Resolutions of the Annual General Meeting

18/03/2014 09:25 AST

In accordance with the provisions of disclosure rules we are pleased to disclose that the 39th Annual General Meeting of the Corporation was held on 17th March 2014 and the meeting resolved the following:

1. Approved the report of the Board of Directors for the financial year ending 31st December 2013.
2. Approved the Corporation’s report on Corporate Governance for the financial year ending 31st December 2013.
3. Approved the Auditor's Report and approved the balance sheet and the profit and loss account for the financial year ending 31st December 2013.
4. Approved the recommendation of the Board of Directors to distribute a cash dividend of 60 % of the paid up capital (60 Bzs per share) to the shareholders for the financial year ending 31st December 2013.
5. Approved the sitting fees paid to the members of the Board and its sub-committee’s meetings for the preceding financial year and determined the sitting fees for the coming financial year.
6. Approved the recommendation of the Board of Directors to pay an amount of R.O. 163,100 as Director's remuneration for the financial year ending 31st December 2013.
7. Took note of the transactions concluded by the Corporation with related parties during the financial year ending 31st December 2013.
8. Took note of the amount paid for Corporate Social Responsibility during the financial year ending 31st December 2013.
9. Appointed Statutory Auditors for the financial year ending 31st December 2014 and fixed an amount of RO 7.000 as their remuneration.

Press Release