GULF MUSHROOM-DECISIONS TAKEN IN THE AGM HELD ON 11 MARCH 2014

12/03/2014 08:29 AST

Decisions taken in the Annual General Meeting of Gulf Mushroom Products Company SAOG held on

11 March 2014 at 4.00 PM at Grand Hyatt Hotel, Muscat were as follows :

1- Considered and approved the report of the Board of Directors for the financial year ended 31 December 2013.

2-Considered and approved the Corporate Governance Report for the financial year ended 31 December 2013.

3-Considered the Auditor's report and approved the Balance Sheet and Profit and Loss Account for the financial year ended 31 December 2013.

4-Considered and approved Board of directors' recommendation to issue bonus shares to the shareholders at 20% of paid up share capital or two bonus share for every ten shares held. Based on this, to increase the number of company's issued and fully paid shares from 22,651,200 to 27,181,440.

5-Approved the sitting fees availed by the members of the Board of directors and members of the Board's sub-committees for past financial year ended on 31 December 2013 and fixed the sitting fees of RO 1,000 per meeting (without increase) for the next financial year ending on 31 December 2014.

6-Considered the related party transactions during the financial year ended 31 December 2013.

7-Considered and approved the proposed related party transactions for the financial year ending 31 December 2014.

8-Considered the social welfare activities and amount spent thereon during the financial year ended 31 December 2013.

9-Considered and approved the budget of RO 10,000 (Riyal Omani Ten Thousand Only) for social welfare activities during the financial year ending 31 December 2014.

10-Appointed KPMG as auditors for the financial year ending 31 December 2014 and fixed RO 6,500 as their fees.

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