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Dividend distribution from SMN Barka Power Company SAOC (Subsidiary)

Content:

Further to the Company’s disclosure dated 12 November 2024 regarding dividend distributions, SMN Power Holding SAOC (“the Company”) is pleased to inform the Muscat Stock Exchange, the Financial Services Authority and the investor community that an Ordinary General Meeting of SMN Barka Power SAOC (99.99% subsidiary of the Company) was held on 05 December 2024, and the meeting decided to approve the proposal to distribute exceptional cash dividends of OMR 11,550,000 (OMR 23.100 per share of SMN Barka Power SAOC) to its shareholders from the retained earnings according to the audited financial statements for the financial year ending 31 December 2023. While 99.99 % of these profits will flow to the Company in accordance with its ownership percentage in SMN Barka Power Company SAOC, any dividend distributions from the Company are subject to meeting all legal and audit requirements in accordance with the Commercial Companies Law, the applicable Financial Services Authority regulations and the Company’s obligations.