Announcements

11.03.2018

Annual General Meeting Disclosure Statement

An Annual General Meeting (AGM) of the shareholders of Sembcorp Salalah Power and Water Company SAOG (the “Company”) was held on Thursday 8 March 2018 at 3:07 p.m. at the Hormuz Grand Hotel, Muscat, Sultanate of Oman. The following resolutions were passed in AGM:

1. The report of the Board of Directors of the Company for the year ended 31 December 2017 was approved.

2. The report on the evaluation of the performance of the Board of Directors for the financial year ended on 31 December 2017 was approved

3. The report on Corporate Governance for the financial year ended 31 December 2017 was approved.

4. The financial statements (Balance Sheet and Profit & Loss Account) of the Company for the financial year ended 31 December 2017 was approved.

5. A proposed cash dividend of 3.1% of the share capital (equivalent to 3.1 Baizas per share) to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as at 1 April 2018 was approved.

6. The shareholders authorised the Board of Directors of the Company to approve the payment of an interim dividend up to 10% (equivalent to 10 Baizas per share) of the issued share capital of the Company, from the audited accounts of the Company for the nine-month period ending September 30, 2018 to shareholders listed in the shareholders’ register maintained by the Muscat Clearing and Depository Company SAOC as on 1 November 2018

7. The sitting fees for the Directors and the Sub-Committees of the Board for an amount of RO 20,500 for the financial year ended 31 December 2017 and the proposed sitting fee for the financial year 2018 was approved.

8. The Directors’ remuneration of RO 67,240 for the financial year ended 31 December 2017 was approved.

9. The transactions and contracts entered into by the Company with related parties, for the financial year ended 31 December 2017 were approved.

10. The proposed transactions and contracts to be entered into by the Company with related parties, for the financial year ending 31 December 2018 were approved.

11. The donation of RO 40,119 made to support community services during the financial year ended 31 December 2017 was approved.

12. A budget of RO 60,000 for the financial year 2018 towards charitable expenses was approved.

13. The appointment of KPMG as independent third party to evaluate the performance of the Company and their remuneration was approved

14. The appointment of PriceWaterhouseCoopers as the auditors of the Company for the financial year 2018 and their remuneration was approved.