AFAQ PLC Energy Recommends the Distribution of 15% Cash Dividends to Shareholders

calender April, 11, 2017,

The General Assembly of AFAQ PLC Energy has ratified the distribution of cash dividends to shareholders of 15%, of the par value of each share. This step had come through the eighth meeting of regular General Assembly held by the company on 9 April 2017. The consolidated company's sales and revenues reached to 20.8 million JDs, in comparison with 17.6 million JDs in 2016. The Vice Chairman of the Board of Directors Mr. Muin Qadada had welcomed the shareholders at the beginning of the meeting, and thanked warmly their interest in attending the meeting, apart from participating effectively in the company's advanced process. A number of shareholders expressed their acknowledgement and gratitude for the level of cooperation and engagement, pointing out the positive aspects of the company in its operational and administrative aspects, including the modernization of fleet, with the aim of becoming more efficient and effective, which is reflected in the growth of the company's profits year over year. After the discussion had been taken place on agenda, the Vice Chairman of the Board of Directors Mr. Muin Qadada pointed out the commitment of AFAQ PLC Energy aiming at achieving the strategic objectives and tackling various issues, this step comes through its policy of expansion gas stations, where the stations operating to date 55 stations distributed throughout the Kingdom. The company has expansion plan to included to build 10 stations yearly to reach 120 by the end of 2020. The Vice Chairman of the Board of Directors added, "In conclusion, allow me to express warm thanks to our shareholders for their lasting confidence in us, and for the Board of Directors' members, the directors of the subsidiaries and all employees, for their remarkable efforts during 2016, particularly the Delegate of General Observer of Companies, asking the Almighty to guide us all for the service of our company, aiming at achieving excellence in regard of our achievement during the year 2017 under the auspices of His Majesty King Abdullah II Ibn Al Hussein