Economy
Renaissance Services holds EGM and AGM
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The Extraordinary General Meeting (EGM) and the Annual General Meeting (AGM) of Renaissance Services SAOG was held on May 12 via the online platform for general meetings on Muscat Clearing and Depository (MCD) website (www.mcd.gov.om).
The EGM /AGM was attended by representatives of the CMA, a representative of the Legal Advisors and representatives of the Statutory Auditors of the Company. The percentage of shares represented in the meeting amounted to 85.74%.
At the EGM, the shareholders approved the amendments to the Company’s Articles of Association in accordance with the requirements of the Commercial Companies Law promulgated by Royal Decree 18/2019. The AGM that followed saw the shareholders approve the Report of the Board of Directors for the financial year ending December 31, 2019, Auditors’ Report, the Balance Sheet and Profit and Loss Account for the financial year ending December 31, 2019.
The shareholders elected the following Board of Directors for a new term of office: Samir J. Fancy, Ali Hassan Sulaiman, HH Sayyid Tarik bin Shabib bin Taimur, Sunder George, Manish Doshi, Hamad Al Wahaibi and Michael Brown.
The shareholders were apprised of the dividend distribution paid to the shareholders on March 30, 2020 at the rate of 20 baizas per share for the financial year ending December 31, 2019. Further, the shareholders approved an amount of RO200,000 for CSR programmes for the financial year ending December 31, 2020.
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