The Annual General Meeting of Gulf International Chemicals SAOG held on 29/3/2015 approved the following:
1. Approved the report of the Board of Directors for the financial year ended 31 December 2014.
2. Approved the Corporate Governance Report for the financial year ended 31 December 2014.
3. Approved the Auditors’ Report, Balance Sheet and Profit & Loss Account for the financial year ended 31 December 2014.
4. Approved the distribution of 22% cash dividend (22 Baisa for each share of nominal value 100 Baisa) for the period from 1/1/2014 to 31/12/2014.
5. Approved the sitting fees to the Board of Directors for attending both Board Meetings and the sub committees for the financial year ended 31 December 2014 and approved the proposed sitting fees for the financial year ending 31 December 2015.
6. Approved the transactions entered into with related parties during the financial year ended 31 December 2014.
7. Elected the following board members by voting: Mr. Murtadha Ahmed Sultanو Mr. Mohamed A. Hussain Al Fadhil, Mr. Waheed M. Al Hameed, Mr. Hasan Ali Abdulla, Mr. Salah M. Sultan, Ms. Manal A. Hussain Al Fadhil and Mr. Mohammad Kayed Nayfeh.
8. Selected and approved the appointment of M/s. Crowe Horwath as Statutory Auditors for the Company for the financial year ending 31 December 2015 and fixed their remuneration.
The new elected Board of Directors structure is agreed by the new elected board members as follows:
Mr. Murtadha Ahmed Sultan – Chairman of the Board
Mr. Mohamed A. Hussain Al Fadhil – Vice Chairman
Audit Committee:
1. Mr. Salah Murtadha Sultan – Chairman of Audit Committee
2. Mr. Waheed M. Al Hameed – member
3. Mr. Hassan Ali Abdulla – member
Executive Committee:
1. Mr. Murtadha Ahmed Sultan - Chairman
2. Mr. Mohamed A. Hussain Al Fadhil – Member
3. Mr. Salah Murtadha Sultan – Member
4. Ms. Manal A. Hussain Al Fadhil – Member
Board Secretary: Mr. Adnan Khan
