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27-07-2017 11:52 AM

GGICO – Resolutions of General Assembly

Meeting Date/Time
Meeting Date/Time Thursday, July 27, 2017 - 02:00 PM Type of Meeting General Assembly
Net Profit/Loss (98,757,000) AED Cash Dividend
Bonus Share New Issuance
Shares Split Capital Deduction
Announcements/Resolutions

With a quorum being present the following decisions were taken:

 

1.      The AGM approved the special resolution for the  company’s to  amend Article (24) of its Articles of Association to be read as follows:

 

A.     The Board of Directors shall have all authorities in the management of the Company and shall carry out all acts and acts on behalf of the Company as authorized by the Company, and exercise all the powers required to achieve its purposes, and shall not limit such powers and authorities except as provided by the Companies Law or the Articles of Association of the General Assembly. Without prejudice to the provisions of the law and its implementing decisions issued by the authority, the Board of Directors is authorized to contract loans for more than three years, sell the company’s stores, properties, mortgage the movable and immovable property of the company, discharge the debts of the company’s debtors from their obligations and to compromise or agree to resort the arbitration. 

 

B.     The Board of Directors shall establish regulations concerning administrative, financial, personnel and financial transactions. The Council shall also establish a regulation for the organization of its work and meetings and the distribution of competences and responsibilities.

 

2.      The AGM approved to add an item to the meeting agenda, requested by the shareholders, before the meeting was convened, moreover, the AGM approved the additional agenda item “to delegate the Chairman or whoever is designated by the Chairman to sign any contracts and/or loans and/or restructure/reschedule existing loans in excess of three years furthermore, authorize the Chairman or whoever is designated by the Chairman to take all the necessary measures to implement the content of this resolution.”

Last Date For Dividend Entitlement Ex-Dividend Date
Register Closing (Settlement) Date Trading Suspension Date
Trading Resuming Date Dividends Payment Date
Payment Entity Meeting Venue GGICO Offices

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