Al Kamil Power Company SAOG (the “Company”) is pleased to advise the Muscat Securities Market and the investors’ community that the Board of Directors met today, the 23 April 2015, at 9:30 am and the following important matters were discussed:

 

1. The Board of Directors approved the Company’s unaudited financial accounts for three months ended March 2015. The Company has earned a net profit of RO 0.595 million (US$ 1.548 million) for the three months ended March 2015. The net profit for the period equates to earnings per share of 6 Baizas (US$ 0.02).

2. Directors have taken note of the status of the final proposal of the terms and conditions for extending the Power Purchase Agreement of Al Kamil Power Company up to the end of 2020 with Oman Power and Water Procurement Company SAOC (OPWP). AKPC will remain actively and constructively engaged in this process with a view of extending its PPA in a manner which is beneficial to all stakeholders.