(MENAFN- Muscat Daily) Muscat- The extraordinary general meeting (EGM) and annual general meeting (AGM) of Dhofar International Development and Investment Holding Co (DIDIH) were held last week at Hamdan Plaza Hotel in Salalah.
The meetings were held under the chairmanship of Sheikh Khalid bin Mustahil al Mashani, chairman of DIDIH, and in the presence of the board members, shareholders and auditors of the company, according to a press release.
The EGM discussed and approved the proposal to renew the authorised capital of the company to RO50mn. The proposal to amend some articles of the company's articles of association was also discussed to comply with Oman's corporate governance charter. At the AGM, new members of the board of DIDIH were elected.
The company also decided to distribute 15 per cent cash dividend to the shareholders and allocate RO100,000 to support the community services for 2018.
The chairman of the meeting informed the shareholders that the company achieved a net profit of RO1.05mn in 2017 compared to RO10.1mn in 2016. Total assets of the company amounted to RO229.81mn at the end of 2017 and all indicators suggested that 2018 will be better than the previous year.
Sheikh Ali bin Ahmed al Mashani, general manager of DIDIH, said, 'The initial indicators for 2018 are positive, especially with the improved performance of the Muscat Securities Market during the first quarter of 2018. This will have a direct impact on all investments which will lead to an increase in the value of the company's assets.'
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