OMAN HOTELS AND TOURISM Important Decisions taken at the EGM & AGM

20/03/2014 09:05 AST

OMAN HOTELS AND TOURISM COMPANY SAOG Important Decisions Taken at the EGM & AGM of Oman Hotels & Tourism Co. SAOG The Annual General Meeting and the Extra-Ordinary General Meeting of Oman hotels & Tourism Co. held on 19th March 2014 at 3:00 PM at Al Falaj Hotel , and taken the following decisions:

EXTRAORDINARY GENERAL MEETING: 1. The shareholders unanimously approved to split the shares from RO. 1.000 per share to RO. 0.100 Baizas per share. Consequent to this resolution a share split into 10 shares of all the registered shares of the company effective from the date of the Extraordinary General Meeting. It was also approved to amend the issued capital from (5,500,000) shares to (55,000,000) and the authorized capital from (7,000,000) shares to (70,000,000) shares. ANNUAL GENERAL MEETING: The shareholders unanimously approved the following decision:
1. The Directors’ Report for the financial year ended 31st December 2013.
2. The Auditor Certified Corporate Governance Report for the financial year ended 31st December 2013.
3. The Auditor’s Report and approve the Profit and Loss Account and Balance Sheet for the financial year ended 31st December 2013.
4. The Board of Directors proposal to distribute a cash dividend (15%) of the company’s capital at the rate of 150 Bzs per share.
5. To ratify the sitting fees paid to the Board of Directors for the Board Meetings and the Audit Committee Meetings held during the financial year ended 31st December 2013 and determining the proposed fees payable for such meetings for the financial year ending 31st December 2014, as per the following details : Board meetings: Chairman RO 600 Member RO 500 Committees: Chairman RO 400 Member RO 350
6. The proposed remuneration of RO. 93000 payable to the Board of Directors for the financial year ended 31st December 2013.
7. To ratify the actual transactions with the Related Parties for the financial year ended 31st December 2013, as per list enclosed.
8. The proposed transactions with the Related Parties for the financial year ending 31st December 2014, as per list enclosed.
9. To ratify the donations and charity paid for the financial year ended 31st December 2013, as per details enclosed.
10. To authorize the Board of Directors for payment not exceeding RO. 15000 towards donations and charity for the financial year ending 31st December 2014.
11. The following Directors were elected to the Board of the company: 1- Mohamed Bin Abdalla Bin Mohamed Al Khonji – Representative of Al Khonji Holding LLC- sharehoders. 2- Qaboos Bin Abdalla Bin Mohamed Al Khonji – Representing himself – Non shareholders. 3- Nasr Amur Shwain Al Hosni – Representing himself – Non shareholders. 4- Awadh Bin Mohammed Bin Faraj Bamukhalif – Representing himself – Non shareholders. 5- Raffy Manoug Kozadjian – Representing Oman & Emirates Investment Holding Co SAOG. 12. To approve the appointment of statutory auditors for the financial year ending 31st December 2014 and approved their fees RO 8000.

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