2016-02-23

Resolution of the Board of Directors' resolved in the meeting held on 23 February 2016.

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 23, 2016:

1- The Board approved the audited financial statements of the Company for the year ended 31 Dec 2015 along with the Board of Directors’ Report, Management Discussion Analysis Report and Report on Code of Corporate Governance.

2- To request the shareholders in the forthcoming AGM to approve the proposal to distribute final cash dividends of 8.2% (Eight Baisa and Two tenth of Baisa for each share) for the financial year ended 31 December 2015.

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 in the month of August 2016 out of the Company’s retained earnings from the audited accounts for the period from 1 January 2016 to 30 June 2016 subject to a ceiling of 4.132% of the issued capital (four Baisa and 132 part of Baisa per share).

4- The Board of Directors of Sohar Power Company and in accordance with the Company's Article of Association appointed Mr. Rodak Ali Iqbal as a Temporary Director to fill the vacant seat in the Board of Director until the next Annual General Meeting.

5- To request the shareholders in the forthcoming AGM to approve for members of the Board of Directors to participate in the management of another company conducting competitive business to the business of the Company.

6- Disclosure of General Meeting invitation on MSM website.