The following resolutions were adopted by the majority of the shareholders represented during the meeting:
Approving the Board of Directors’ Report concerning the Company’s activities and the final findings of The Committee to Assess the Condition of some Public Shareholding Companies of the UAE, and the Company’s financial position for the past years from 2008 through to 2014, and the final settlement agreed with the creditors
Approving the Auditors’ Report concerning the Company’s activities and financial position for the past years from 2008 through to 2014
Approving the Balance Sheet and Profit and Loss Account of the Company for the past years from 2008 through to 2014.
Approving to absolve the Board of Directors and the Auditors from liability for the past years from 2008 through to 2014.
Approving the Fatwa and Sharia Supervisory Board Report for the past years from 2008 through to 2014.
Approving lifting the suspension on trading of the Company’s shares on the Dubai Financial Market and authorizing the Company’s Board of Directors to obtain the approval from the concerned authorities and to determine the date for the Company’s shares to resume trading.
it is resolved to elect the new Board of Directors for the upcoming cycle 2015-2018 which consists of :
Ali Ibrahim Mohamed Ismail
Farooq Mahmood Arjomand
Essamuddin Hussain Galadari
Saleh Saeed Lootah
Hesham Abdulla Al Qassim
Ahmad Hamdan Bin Dalmook
Arif Abdulla Alharmi
Approving the appointment of the Auditors of the Company for the past years from 2009 through to 2014.
Approving the appointment of M/s Ernst & Young as external auditors for the year 2015 against a fee of AED 551,250/-
Approving the decision of the Fatwa and Sharia Supervisory Board to remove its member Mr. Mohammed Abdul Razzaq Al Sedeeq and the appointment of Mr. Moosa Tariq Khoory as his replacement.
It is resolved to pay additional fees to the Board of Directors of the Company in the total amount of AED 4,740,000/- for their special and additional efforts above their normal duties as board members to regularize the financial situation of the Company.