Members have been appointed to the board of directors of State Trading Organization (STO).
The board has six members nominated by the government and one member elected by the shareholders.
The new directors were appointed at the company’s annual general meeting held at the Hulhumale’ central park on Wednesday night.
A total of 328 members who attended the meeting were eligible to vote and votes were counted as one vote per share.
The members who attended the meeting represented a total of 949,446 shares. They voted to maintain the government nominated directors from last year.
Government nominated directors:
- Abdulla Saeed, Managing Director
- Hamid Nasheed Mohamed, Chairman
- Mohamed Nizam, Director
- Shimad Ibrahim Director
- Gais Ismail, Director
- Ismail Zumail Rasheed, Director
The director elected by the shareholders was Mohamed Ahusan Saleem, Ma. Tulip villa, Male’. He was elected with 66.08 percent votes.
While the annual general meeting was held, MVR 77 per share was approved as a dividend. STO made a big profit last year with MVR 18.2 billion in income.
