Al Batinah 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 18 February 2016:

1. Approval of the audited financial statements of the Company for the year ended 31 December 2015 together with the Board of Directors’ Report and the Corporate Governance Report, and recommendation for approval of the shareholders in the forthcoming AGM.
2. Approval of the Management Discussion and Analysis Report.
3. Request the Shareholders in forthcoming AGM to authorize the Board of Directors to determine and distribute cash dividends to the Shareholders of the Company in May/June 2016 and November/December 2016 out of the retained earnings as per the audited financial statements for the financial year ended 31 December 2015, provided that the aggregate amount shall not exceed 10% of the paid up share capital of the Company (i.e., 10 Baizas per share).
4. Approval to convene AGM of the Shareholders of the Company on 14 March 2016.
5. The Board noted the progress made to refinance the Company’s long term loans. The ongoing refinancing exercise, if found feasible and in the interest of the Company, is slated to be accomplished by end April 2016.