2017-03-12

Invitation to the Annual Ordinary General Meeting

The Board of Directors of Sohar Power Company SAOG. (hereinafter referred to as the “Company”) is pleased to invite the Shareholders of the Company to the Annual General Meeting (AGM) to be held at 5:00 pm on Wednesday 29 March 2017 at Muscat Intercontinental Hotel in Muscat, Sultanate of Oman, to consider the following agendas:

 

1- To consider and approve the Board of Directors’ Report for the financial year ended 31  December 2016.

 

2- To consider and approve the Corporate Governance Report for the financial year ended 31 December 2016.

 

3- To consider the Auditors’ Report and approve the Financial Statements for the year ended 31 December 2016.

 

4- To consider and note the transactions carried out by the Company with related parties during the financial year ended 31 December 2016.

 

5- To consider and approve the transactions that will be carried out by the Company with related parties for the financial year ending 31 December 2017.

 

6- To notify the meeting with the donations made by the Company on account of corporate social responsibility during the financial year ended 31 December 2016

 

7- To consider and approve the proposal to allocate up to OMR 40,000 for Corporate Social Responsibility activities for the financial year ending 31 December 2017.

 

8- To approve the criteria to appraise the Company's Board of Directors

 

9- To appoint an Independent Firm to appraise the performance of the Company's Board of Directors for the financial year ending 31 December 2017 and approve their fees.

 

10- To approve for a member of the Board of Directors to participate in the management of another company conducting competitive business to the business of the Company.

 

11- To appoint the statutory auditors for the financial year ending 31 December 2017 and approve their fees.

 

12- To elect one member to fill the vacant seat in the Board of Directors for the Company as following :

 

a) Any person (shareholder or non-shareholder) who wishes to nominate herself/himself to the Board of Directors must comply with the Articles of Association of the Company and the Capital Market Authority's (CMA) requirements for directors and fill in a form that can be obtained from the website of the CMA or from the Company's offices.

 

b) The completed form should be delivered by no later than (5.30 pm) on Sunday, 26 March 2017 to the Company’s offices. Any forms received after the above date shall not be considered by the Company.

 

c)  As per the Articles of Association of the Company, if the candidate is a shareholder, he/she must own a minimum of (1) share in the Company in the AGM date.

  

In accordance with the Articles of Association of the Company, every shareholder has the right to appoint any other person as his proxy to attend the meeting and vote on his behalf by authorising such person in writing, by way of a proxy card issued by the Company. Any natural person should attach to the proxy card, a copy of his ID if adult male, and passport if female or minor who are not holding IDs and a copy of a resident card or passport for non-Omanis. For juristic persons, the proxy form  shall be signed by one of the authorized signatories and sealed by the company's stamp accompanied with copies of the commercial registration certificate and the specimen signature form (if available) or ID card /Residence card of the Authorized Signature.

 

Please attend at least 30 minutes prior to the meeting. For more information, please contact Mr. Mirdas Al Rawahi, the Company's Chief Financial Officer, telephone number +968 24400600.

 

Note: it may be noted that the Capital Market Authority in its letter to the company dated 5 march 2017 has made certain reservations regarding the Company's compliance with International Financial Reporting Standards (IFRS) details of which will be presented to the shareholders at the AGM.