1

The amendment of the company’s articles of association in accordance with the requirements of the Commercial Companies Law and promulgated by Royal Decree No. 18/2019 was approved.

1

The Board of Directors’ Report on Corporate Governance for the financial year ended 31/12/2019 was approved.

2

The Board of Directors’ Report on Corporate Governance for the financial year ended 31/12/2019 was approved.

3

The Auditors Report of on the audit financial statements of the company for the financial year ended 31/12/2019 was approved.

4

The cash dividends distributed to the shareholders on 29/03/2020, at a value of 8 baizes per share was brought to the to the knowledge of the AGM.

5

The sitting fees being availed by the members of the Board of Directors and sub-committees for the financial year ended 31st December 2019, were ratified and the sitting fees for the next financial year were specified.

6

The proposed Directors' remuneration of RO )74,200( for the financial year ended 31 st December 2019, was approved.

7

The transactions carried out by the Company with related parties during the financial year ended 31/12/2019 were brought to the knowledge of the AGM.

8

The donations spent on voluntary and social services for the financial year ended 31/12/2019 was brought to the knowledge of the AGM.

9

The donations spent on voluntary and social services for the financial year ended 31/12/2019 was brought to the knowledge of the AGM.

10

The proposal of allocating RO )50,000) for supporting local community services for the financial year ending 31/12/2020 was approved.

11

The company's contribution of RO. 50,000 (RO. Fifty Thousand) in combating the Coronavirus (Covid-19) during the current year was brought to the knowledge of the AGM.

12

The following members were elected to the Board of Directors for a period of three years:

2    Mr. Nasser Mohamed Al Harthy     Independent

3    Mr. Tariq Abdul Hafid Al Aujaili     Non-Independent

4   Shaikh Salah Hilal Al Mawali    Non-Independent

5    Shaikh Mohamed Salim Al Saadi     Non-Independent

6    Shaikh Ahmed Said Al Mashan     Non-Independent

7    Mr. Majid Sultan Al Toki     Non-Independent

1    Mr. Ahmed Mohamed Al Abri     Chairman

13

BDO was appointed as the External Auditors for the financial year ending 31.12.2020, and their fees year were specified.

14

Protiviti was appointed as an independent body to measure the performance of the new board of directors for the next three years that will end on 31/12/2022 and their fees year were specified.

1

Approving the amendment of the company’s articles of association in accordance with the requirements of the Commercial Companies Law and promulgated by Royal Decree No. 18/2019. (As per annexture No. 1)

1

Consideration and approval of the report of the Board of Directors’ for the financial year ended 31/12/2019.

2

Consideration and approval of the Corporate Governance Report for the financial year ended 31/12/2019.

3

Consideration of the Auditors Report and approval of the Statement of Financial Position and Statement of Comprehensive Income for the financial year ended 31/12/2019.

4

Consideration and approval of the proposal to distribute cash dividend at the rate of 8 baizas per share for the financial year ended 31/12/2019.

5

Approval of sitting fees for the Directors and Sub Committees for the year ended and determination of the sitting fees for the next financial year. (As per annexture No. 2)

6

Consideration and approval of Directors’ Remuneration amounting to RO.74,200 for the financial year ended 31/12/2019.

7

To bring to the knowledge of the AGM the transactions carried out by the Company with related parties during the financial year ended 31/12/2019. (As per annexture No. 3)

8

Consideration and approval of the Related Party Transactions proposed to be carried out during the financial year ended 31/12/2020. (As per annexture No. 4)

9

To inform the the AGM of the amount spent on voluntary and social services for the financial year ended 31/12/2019. (As per annexture No. 5)

10

To consider and approve the proposal of allocating RO )50,000) for supporting local community services for the financial year ending 31/12/2020.

11

To elect new Board of Directors for then next three years to fill the seven seats from among the shareholders and/or non-shareholders. Anyone who wishes to nominate himself /herself must fill the form and submit it to the company two working days prior to the General Meeting: on or before Tuesday, 24/03/2020. If such a person is a shareholder, then, as per the Articles of Association of the company, he or she must own at least one share.

12

Appointment of the Auditors for the financial year ending on 31/12/2019.and to determine their fees.

13

Appointment of an independent body to measure the performance of the new board of directors for the next three years that will end on 31/12/2022 and determine its fees.

Year Ended

31.12.2019

RO. In ‘000s

Year Ended

31.12.2018

RO. In ‘000s

Revenue (Incl Investment & Other Income)

16,438

15,150

Share of Profits of Associates

5,346

4,451

Net Profit Before Tax

3,445

543

Net Profit After Tax

3,652

571

Earning Per Share (RO)

0.019

0.003

Total Assets

109,071

102,598

Total shareholders Funds

30,675

27,880

Net Asset Per share (RO)

0.153

0.139

Parent

Group

Details

Unaudited year ended

31.12.2019

(RO in 000's)

Audited year ended

31.12.2018

(RO in 000's)

Unaudited year ended

31.12.2019

(RO in 000's)

Audited year ended

31.12.2018

(RO in 000's)

Total Revenue

21,306

19,594

16,108

14,645

Total Expenditure

<18,029

19,051

12,372

11,827

Net Profit before tax

3,277

543

3,736

2,818

Net Profit after tax

3,492

571

3,980

2,861