National Detergent co. Annual General Meeting

17/03/2014 08:22 AST

We wish to inform you that the Annual General Meeting of M/s The National Detergent Co. SAOG was held on Sunday, 16th March 2014 at 'Habrout & Lubaan Room' Hotel Grand Hyatt Muscat at 5:00 PM, and following resolutions were passed at the meeting:

1. The shareholders approved the Board of Directors' Report for the year ended 31 December 2013;
2. The shareholders approved the Corporate Governance Report for the year ended 31 December 2013;
3. The shareholders approved the Auditor's Report and the financial statements of the company for the year ended 31 December 2013;
4. The shareholders approved the cash dividend of Bz. 40 per share i.e. 40% of the share capital for the year ended 31 December 2013;
5. The shareholders approved the sitting fees of RO12,800 (RO Twelve Thousand Eight Hundred only) paid to the Board of Directors for the year ended 31 December 2013 and fixed the sitting fee @ RO 400 (RO Four hundred only) per director for each meeting attended for the year ending 31 December 2014;
6. The shareholders approved the Board of Directors' remuneration of RO 30,000 (RO Thirty Thousand only) for the year ended 31 December 2013;
7. The shareholders approved the contracts and transactions entered into by the Company with the related parties during the financial year ended 31 December 2013;
8. The shareholders approved the appointment of M/s Ernst & Young as the statutory auditors of the company for the year ending 31 December 2014 and approved their remuneration of RO 8,000 (Omani Rial Eight Thousand Only) including Corporate Governance Report.

Press Release