Phoenix Power Company SAOG (the “Company”) advises the Capital Market Authority, the Muscat Securities Market and the investors’ community that it has resolved the following at the meeting of the Board of Directors held on 26 April 2016:
1. Appointment of Mr. Abhishek Kalla as suitably qualified Board Secretary
2. Acceptance of the resignation of Mr. Peter Kevin Jones from his position as a member of the Board and change of his designation from EMD to CEO with effect from 26 April 2016
3. Acceptance of the resignation of Mr. Kazuaki Shibuya from his position as a member of the Board as the representative of Axia Power Holdings B.V. with effect from 26 April 2016
4. Approval of the appointment of Mr. Carlos Alcazar as a member of the board with effect from 26 April 2016
5. Approval of the appointment of Mr. Tomoki Nishino as a member of the Board as the representative of Axia Power Holdings B.V. with effect from 26 April 2016
6. Approval of unaudited quarterly financial statements for the 3-month period ended 31 March 2016 together with the Board of Directors’ Report.
7. Establishment of a Corporate Social Responsibility Charter.
8. Approval a sum not exceeding USD 20,000 for donation in 2016 which will be ratified in the next Ordinary Annual General Meeting to be held in March 2017
9. Approval of the revised delegation of authority of the Company
10. Appointment of Mr. Peter Kevin Jones as an official spokesman for the Company
11. Approval of an internal Code of Conduct
12. Establishment of a Nomination and Remuneration Committee
13. Approval of the clear policies and controls for providing Board members with the information they need outside the routine and regular framework of Board meetings