Gulf Warehousing's AGM Endorses Agenda, Approves Distribution of 16% Cash Dividends

 

January 30, 2017

 

Gulf warehousing company announced the resolutions of Ordinary General Assembly Meetings held Monday 30 January 2017.  The following resolutions were passed:

 

AGM :

 

First: Management Report and Future Plan:

The AGM heard the management report on the company activities and its financial position for the year ended 31.12.2016.

 

Second: Discussion of Auditors’ report and Company’s Financial Statements:

The AGM heard the auditors’ report, by KPMG, on the company balance sheet and profit and loss account of the financial year ended 31.12.2016.

The AGM approved company balance sheet and profit and loss account of the financial year ended 31.12.2016, the AGM approved the Auditors’ Report on the Company’s Financial Statements.

 

Third: Discussion of Company’s Financial Statements & Bonus approval:

The AGM discussed the balance sheet and profit and loss account and agree on the distribution of cash dividends on the value of QR (1.6) per share by 16%.

 

Fourth: Absolving BOD Members from responsibilities for transactions:

The AGM absolved the BOD Member from responsibilities for transaction for the year ended 31.12.2016.

 

Fifth: Appointment of External Auditors for the year 2017:

The AGM decided to appoint KPMG as External Auditors for the year.

 

Sixth:  Corporate Governance Annual Report for 2016:

The AGM heard the Corporate Governance Annual Report for 2016.