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16-04-2019 09:18 AM

GULFNAV – Resolutions of General Assembly

Meeting Date/Time
Meeting Date/Time Monday, April 15, 2019 - 02:00 PM Type of Meeting General Assembly
Net Profit/Loss (40,000,000) AED Cash Dividend
Bonus Share New Issuance
Shares Split Capital Deduction
  1.  Approved and ratified the report of the Board of Directors on the Company’s activities and its financial position for the year ended on   31 December 2018; and
  2. Approved and ratified the External Auditors'report for the year ended on 31 December 2018; and
  3. Approved and ratified the sharia report for the year ended on 31 December 2018; and
  4. Approved and ratified the balance sheet and profit & loss statements for the year ended on 31 December 2018; and
  5. Approved absolving the Board of Directors from their responsibility for the year ended 31 December 2018; and
  6. Approved absolving the Auditors from their responsibility for the year ended 31 December 2018; and
  7. Approved appointing Deloitte as the external auditors of the Company for the financial year ended 31 December 2019 and determining its fees; 
  8. Not to appoint a Sharia Committee.
  9. The Board of Directors has not recommended any remunerations for the financial year ended 31 December 2018 and the General Assembly has decided not to distribute any remunerations.
  10. Elected and appointed the following as independent members of the new Board of Directors of the company:
  11. 1.       Mr. Usama Mohamed Ali Al Barwani

    2.       Mr. Saeed Mubarak Rashed Al Hajeri

    3.       Mr. Ahmed Essa Ahmed Hareb Al Falahi

    4.       Mr. Nureddin Sharif Mousa Sehweil

    5.       Mr. Abdulrahman Mahmoud Al Afeefi

    6.       Mr. Ahmad “M.F.” A. Al Kilani

    7.       Mr. Ajit Vijay Joshi Vijay.

  12. Approve to granting a one-year permission to Board of Directors to carry out activities competing with or related to the Company’s activities under paragraph (3) of Article (152) of the Federal Law No. (2) of 2015.

  13. Special Resolution

    1-     Approve the amend the Articles of Association of the company excepted the following articles: (5.1, 5.2,  26.10); all amendments are subject to approval of the competent authorities.

    2-     Recommend that the Board of Directors that the Company maintains, to the extent possible,compliance with the conditions set out in:

    -     Dubai Financial Market Standards on Shari’a-Compliance – Standard No. 1 – Issuing, Acquiring and Trading Shares; or

    -     Shari’a Standard No. (21) – Financial Paper (Shares and Bonds) of the Shari’a Standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions.

    So that the shares of the Company are capable of being held and traded in accordance to the conditions set out in any of the above standards; and

    revoked the special resolution issued by the General Assembly on 15 June 2016, which states that “the Company’s activities be Shari’a compliant.

Last Entitlement Date Ex-Dividend Date
Registry Closing (Settlement) Date Meeting Venue Novotel Hotel Sheikh Zayed road

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