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20-04-2017 02:18 AM

GULFNAV – Resolutions of General Assembly

Meeting Date/Time
Meeting Date/Time Wednesday, April 19, 2017 - 02:00 PM Type of Meeting General Assembly
Net Profit/Loss 136,573,000 AED Cash Dividend
Bonus Share New Issuance
Shares Split Capital Deduction
Announcements/Resolutions Resolutions:
1. 
Approved the report of the Board of Directors on the Company’s activities and its financial position for the year ended on 31 December 2016.

2.  
Approved the External Auditors' report for the year ended on 31 December 2016.

3. Approved the balance sheet and profit & loss statements for the year ended on 31 December 2016.

4. Approved discharge of the Board of Directors of the liability for their actions for the year ended 31 December 2016.

5. Approved discharge of the Company's Auditors of the liability for their actions for the year ended 31 December 2016.

6. Approved the appointment of Ernst & Young as auditors of the Company for the financial year 2017, and fixing their fees.

7. Ratified the appointment of Dar Al Sharia Islamic Finance Consultancy LLC as the Company’s Islamic Sharia Advisors

8. Approved the remuneration for the board members for the year 2016
 

9. Presented the report about the international partnership entered into between the Company and Polimar Holding BV. 

10. Presented the report addressing  the latest developments regarding filing a court case against Mr. Fahad Al Otaibi or reaching a settlement agreement regarding the sale and lease contracts of the premises of the Company located at  Office 3201, 32nd floor, Saba Tower,, Jumeirah Lakes Towers, Dubai, UAE.

Special Resolution

11. Approved the issuance of senior and unsecured Sukuk with a total value up to USD 250 million by Public Offering, redeemable within five years at profit rate less than 10%, and authorized the Board to take all necessary actions with respect to the issuance of the Sukuk and to negotiate its terms.  


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 Le Royal Meridian Beach Resort, Al Sufouh Road, Jumeirah Beach Residence, Dubai

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