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21 July 05:10 PM

25 February 2015 Board of Directors resolutions’ disclosure

25 February 2015 Board of Directors resolutions’ disclosure
SMN Power
SMNP
0.51% 0.20 0.00

SMN Power Holding SAOG

25 February 2015 Board of Directors resolutions’ disclosure

 

Muscat, Oman, 26 February 2015: The Board of Directors of SMN Power Holding SAOG (“the Company”) is pleased to advise the Capital Market Authority, the Muscat Securities Market and the investors’ community that it has resolved the following at the meeting of the Board of Directors held on 25 February 2015:

  1. Approval of the audited separate financial statements of the Company for the 12-month period ended 31 December 2014.

     

  2. Approval of the audited consolidated financial statements of the Company for the 12-month period ended 31 December 2014. The financial statements are available on the MSM website.

     

  3. Review and recommendation to the Shareholders of the Company to distribute a cash dividend of 22% per share (22 baizes per share) from the consolidated audited accounts of the Company for the year ended 31 December 2014, to the shareholders who are registered in the Company’s register with Muscat Clearing & Depository Company SAOC as on 1 May 2015.

     

  4. Review and recommendation to the shareholders in the forthcoming AGM to authorize the Board of Directors of the Company to approve the payment of an interim dividend not exceeding 22% per share (22 baizes per share) out of the consolidated audited accounts of the Company for the 6-month period ended 30 June 2015, to the shareholders who are registered in the Company’s register with Muscat Clearing & Depository Company SAOC as on 1 November 2015.

     

  5. Approval of the notice for the AGM to be held on 31 March 2015 at the Intercontinental Hotel, Muscat at 5.00 pm.

On the same date, the Boards of Directors of SMN Barka Power Company SAOC and Al Rusail Power Company SAOC, fully-owned subsidiaries of the Company, have taken the following decisions:

For SMN Barka Power Company SAOC (SMN Barka):

  1. Approval of the audited financial statements for the 12-month period ended 31 December 2014.

     

  2. Review and recommend to the Shareholders of SMN Barka to distribute a cash dividend of 796.7% (RO 7.967 per share) from the audited accounts of the SMN Barka for the year ended 31 December 2014 to the shareholders who are registered as shareholders of SMN Barka as on 15 March 2015.

     

  3. Review and recommend to the shareholders of SMN Barka at the forthcoming AGM to consider and approve authorizing the Board of Directors to distribute interim dividend for the period of 1 January 2015 to 30 June 2015 subject to a ceiling of 607.6 % (RO 6.076 for each share), out of the retained earnings of SMN Barka as 30 June 2015 to the shareholders who are registered as shareholders of SMN Barka as on 15 September 2015.

     

For Al Rusail Power Company SAOC (Al Rusail):

  1. Approval of the audited financial statements for the 12-month period ended 31 December 2014.

     

  2. Review and recommendation to the Shareholders of Al Rusail to distribute a cash dividend of 123.6% (RO 1.236 per share) from the audited accounts of Al Rusail for the year ended 31 December 2014 to the shareholders who are registered as shareholders of Al Rusail Power as on 15 March 2015.

     

  3. Review and recommend to the shareholders of Al Rusail at the forthcoming AGM to consider and approve authorizing the Board of Directors to distribute interim dividend for the period of 1 January 2015 to 30 June 2015 subject to a ceiling of 179.8 % (RO 1.798 for each share), out of the retained earnings of Al Rusail as on 30 June 2015 to the shareholders who are registered as shareholders of Al Rusail as on 15 September 2015.

     

 

 

Source: Muscat Exchange News