Press Releases

Resolutions of the Ordinary Annual General Meeting30/03/2017


Oman International Development and Investment Co. held its Ordinary Annual General Meeting (‘‘AGM’’) on Wednesday the 29th of March 2017 at Afrah 3 Ballroom, Grand Hyatt – Muscat, at 03:00 p.m. The shareholders reviewed the agenda items and resolved the following:

(1)  The approval of the Directors’ Report for the financial year ended 31 December 2016.

(2)  The approval of the Corporate Governance Report for the financial year ended 31 December 2016.

(3)  The approval of the Auditor’s Report, Statement of Financial Position and Statement of Comprehensive Income for the financial year ended 31 December 2016.

(4)  The approval of the proposed cash dividend of (15 baisas for every share) representing (15%) of the share capital on the AGM’s date.

(5)  The approval of the proposed stock dividend (10 shares for every 100 shares) representing (10%) of the share capital as on the AGM’s date, which results to increasing the share capital from (635,790,890) shares to (699,369,979) shares.

(6)  The ratification of the sitting fees paid to the Board of Directors and its committees for the preceding financial year, and the approval of the sitting fees for the forthcoming financial year.

(7)  The approval of the directors' remuneration of RO 163,500 (Rial Omani one hundred sixty-three thousand and five hundred) for the financial year ended 31 December 2016.

(8)  Notification of the related-party transactions during the financial year ended 31 December 2016.

(9)  Notification of the amounts paid to corporate social responsibility during the financial year ended 31 December 2016.

(10)  The approval of the allocation of RO 100,000 (Rial Omani one hundred thousand) for corporate social responsibilities for the year 2017 and the authorization of the Board of Directors for its expenditure.

(11) The election of Mr. Majid Salim Saeed Al Fannah Al Araimi as a member of the board of directors by acclamation .

(12) The appointment of Ernst & Young as the Statutory Auditors of the Company for the financial year ending 31 December 2017 and their remuneration.

(13) The approval of the framework parameters for the evaluation of the performance of the board of directors.

(14) The appointment of Protiviti to evaluate the performance of the Board of Directors for the financial year ending 31 December 2017 and their remuneration.