Resolutions of the Board of Directors

20/02/2014 09:42 AST

We are pleased to inform you that the Board of Directors of Sohar Power Company (SAOG) resolved the following in its meeting held on February 19, 2014

1. The Board reviewed and approved the audited financial statements of the Company for the year ended 31 Dec 2013 along with the Board of Directors' Report, Management Discussion and Analysis and Report on Code of Corporate Governance, and recommended for approval of shareholders.

2. To request the shareholders in the forthcoming AGM to approve the proposal to distribute final cash dividends of 11% (110 Baiza for each share) for the financial year ended 31 December 2013.

The entitlement of dividends is for the Company's shareholders registered with the Muscat Clearance and Depository Company SAOC on the date of the Annual Ordinary General Meeting.

3. To request the shareholders in the forthcoming AGM to authorize the Board of Directors to distribute interim dividends for the period from January 1, 2014 to June 30, 2014 subject to a ceiling of 15 % (150 Baiza for each share), out of the Company's available retained earnings.

4. To call for an Extra Ordinary General Meeting to amend the face value of the Company's shares from RO 1 to Bz. 100 per share and to amend some articles in the Articles of Association of the Company accordingly.


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