Decisions of the Ordinary Annual General Meeting for the year 2016

We are pleased to inform you that the Ordinary Annual General Meeting for the year 2016 of National Finance Co. SAOG was held at the office of National Finance, Al Khuwair on Wednesday, March 29, 2017 and the Shareholders’ have unanimously approved the following agenda items:

  1. The report of the Board of Directors for the financial year ended December 31, 2016.
  2. The Corporate Governance Report for the financial year ended December 31, 2016
  3. 3. The auditor’s report, the Balance Sheet and the Profit and Loss Account for the financial year ended December 31, 2016
  4. Distribution of cash dividend at the rate of 12% on the paid-up capital (at the rate of 12 baizas per share).
  5. Distribution of cash dividend at the rate of 14% on the paid-up capital (at the rate of 14 baizas per share).
  6. Distribution of bonus shares at the rate of 3% on the paid-up capital (at the rate of 3 shares per every hundred shares held by the shareholder). Consequently, the paid-up capital will be increased from 271,125,365 shares to 279,259,126 shares.
  7. Directors’ Sitting Fees paid for the year 2016 and Directors' Sitting Fees proposed for the year 2017
  8. The related parties' transactions during the year 2016.
  9. Amount paid towards social responsibility activities during the year 2016.
  10. Authorized the Board to pay amounts not exceeding in total Rials 50,000 for Corporate Social Responsibility for the year 2017
  11. Appointment of KPMG as the Statutory Auditors of the Company for the year 2017 and fixing their fee.
  12. The criteria for evaluation of performance of the Board of Directors
  13. Appointment of Protiviti, an independent entity, to evaluate the performance of the Board of Directors for the financial year ending December 31, 2017 and fixing their fee.
  14. The following directors were elected.
    1. Mr. Taya Jandal Ali
    2. Mr. Hani Muhammad Al Zubair
    3. Mr. Pramod G. Karajgikar
    4. Mr. Francis Pinto
    5. Mr. K. Balaji
    6. Mr. AbdulAziz Al Balushi
    7. Mr. K. Palanivelu
 

Best Regards,

Robert Pancras
Chief Executive Officer

Decisions of the Ordinary Annual General Meeting for the year 2015

We are pleased to inform you that the Ordinary Annual General Meeting for the year 2015 of National Finance Co. SAOG was held at the office of National Finance, Al Khuwair on Sunday, March 27, 2016 and the Shareholders’ have unanimously approved the following agenda items:

  1. The report of the Board of Directors for the financial year ended December 31, 2015.
  2. The Corporate Governance Report for the financial year ended December 31, 2015.
  3. The auditor’s report, the Balance Sheet and the Profit and Loss Account for the financial year ended December 31, 2015.
  4. Distribution of cash dividend at the rate of 12% on the paid-up capital (at the rate of 12 baizas per share).
  5. Distribution of bonus shares at the rate of 3% on the paid-up capital (at the rate of 3 shares per every hundred shares held by the  shareholder). Consequently, the paid-up capital will be increased from 263,228,510 shares to 271,125,365 shares.
  6. Directors' Sitting Fees paid for the year 2015 and Directors' Sitting Fees proposed for the year 2016.
  7. Directors’ Remuneration of Rials 175,000 for the year 2015.
  8. The related parties' transactions during the year 2015.
  9. Amount paid towards charitable purposes during the year 2015.
  10. Authorized the Board to pay amounts not exceeding in total Rials 35,000 for charitable causes for the year 2016.
  11. Appointment of KPMG as the Statutory Auditors of the Company for the year 2016 and fixing their fee.
 

Best Regards,

Robert Pancras
Chief Executive Officer

Key contact personnel for Business Continuity Management

This is to inform you that the company has in place the Business Continuity Plan and Disaster Recovery Plan.  The Business Continuity Plan as well as the Disaster Recovery Plan have been tested and found to be effective.

The key contact personnel for Business Continuity Management at National Finance are given below:

Key Contact

1.  Name : Mr. V. Ramakrishnan
     Chief Manager – COSME
     Phone : 24470000 (Board)
                 24470284 (Direct)
     Mobile : 99227261
     Fax : 24484234
     Email : ramakrishnan.vembu@nationalfinance.co.om


2.  Name : Mr. Mohd. Al Busaidy
     Chief Manager – IT
     Phone : 24470000 (Board)
                 24470236 (Direct)
     Mobile : 99833148
     Fax : 24484495
     Email : m.busaidi@nationalfinance.co.om

Alternate Key Contact

1. Name : Mr. Ajit Vasudeven
    Chief Manager – Retail Sales
    Phone : 24470000 (Board)
                24470001 (Direct)
    Mobile : 92121183
    Fax : 24484234
    Email : ajit.vasudevan@nationalfinance.co.om

2. Mr. Nidhal Ahmed Al Rahbi 
    Manager - Human Resources & Administration
    Phone: 24470000 (Board)
               24470285 (Direct)
    Mobile: 95131393
    Fax: 24484495
New Schedule of charges
National Finance
Schedule of Charges
Sl.No Description Charges with effect from August 1, 2013
1 Processing/Front end fee for Corporate leases involving Lease capital in excess of RO 25,000/ Upto 1% of the finance amount  as per the facility offer letter
2 Cancellation of lease before commencement of instalment/payment to the supplier etc RO 10/-
3 Cheque hold charges RO 5/- per cheque
4 Dishonour of a Cheque RO 5/- per cheque
5 Penal interest on overdues 2% p.a. over and above the contracted effective rate of interest 
6 Transfer of a lease to a third party RO 10/-
7 Reschedulement of a lease RO 10/-
8 Preclosure of a lease (Not applicable for Transfer/Reschedule) 1% of the Lease capital outstanding
9 Legal expenses Actual
10 Valuation charges Actual
11 Change of Registered ownership of the asset RO 5/-
12 Replacement of an asset RO 5/-
13 Substitution of PDCs RO 5/-
14 NOC for taking vehicle outside Oman RO 2/-
15 Life Insurance premium 0.25% flat p.a./RO 1 for every block of RO 5,000 lease facility
16 Statement of account/foreclosure statement  RO 2/-
17 No due certificate RO 2/-
18 Issuing of duplicate Release letter RO 5/-
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