The Board of Directors of United Power Company SAOG. (hereinafter referred to as the “Company”) is pleased to invite the Shareholders of the Company to the Extraordinary General Meeting (EGM) and the Annual General Meeting (AGM) to be held at 5:00 pm on Monday 28 March 2017 at the Ramada Muscat Hotel, Sultanate of Oman, to consider the following agendas:
First: Extraordinary General Meeting EGM agenda:
Second: Annual Ordinary General Meeting AGM agenda:
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 (as in Annexure).
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 (as in Annexure).
6. To consider and ratify the Board and Committees’ sitting fees paid during the preceding year and specify the Board and Committees sitting fees for the coming year (as in Annexure).
7. To consider and approve the proposal to allocate up to OMR 30,000 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 (as in Annexure)
9. To appoint an Independent Firm to appraise the performance of the Company's Board of Directors and its members for the financial year ending 31 December 2017 and approve their remuneration.
10. To appoint the statutory auditors for the financial year ending 31 December 2017 and approve their remuneration.
11. To elect a new Board of Directors for the Company:
a) person (shareholders or non-shareholders) 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 Thursday, 23 March 2017 to the Company offices. Any forms received after the above date shall not be considered by the Company.
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 any) 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. Jamal Salah Al Baluoshi, the Company's Admin Manager, telephone number +968 24400600.