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Results of Aramex’s Board of Directors Meeting

The Board of Directors of Aramex PJSC held a meeting on Sunday, 19th February 2017 at 4:00PM at Aramex’s headquarters located in Business Central Towers, Dubai Media City, Dubai - UAE.

Below the results of the meeting:

  1. Approving the audited financials for the fiscal year ended December 31, 2016
  2. Inviting the General Assembly to hold its meeting on Tuesday, 21st March 2017, subject to the approval of the Securities and Commodities Authority on the date and agenda of the meeting
  3. Recommending to the General Meeting the distribution of cash dividends for the year ended 31 December 2016 amounting to 16% of the Company’s paid-up capital
  4. The Board approved presenting the recommendations of the Audit Committee on the appointment of the Company’s external auditors for the year ending December 31, 2017 to be approved by the shareholders at the Annual General Meeting
  5. The Board approved presenting the recommendation for the remuneration for the Directors of the Board for the year ended December 31, 2016 to be approved by the shareholders at the Annual General Meeting
  6. The Board approved the Company’s budget for the year ending December 31, 2017
  7. Approving the renewal of the Company’s Property All Risk Insurance Policy and Business Interruption Insurance Policy with Emirates Insurance Company for an additional one year at a premium of USD $894,734 for the Property All Risk Insurance Policy, and USD $442,889 for the Business Interruption Policy. Mr. Abdullah Al Mazrui, Chairman of the Board of Directors of Aramex PJSC abstained from voting on this matter, being a conflicted party, as he currently serves as the Chairman of Emirates Insurance Co. Also, Mr. Ahmed Al-Badi, Board Member of Aramex PJSC, abstained from voting on this matter, being a conflicted party, as he currently serves as Board Member of Emirates Insurance Co.