The Maldives Tourism Development Corporation (MTDC) has decided to hold its Annual General Meeting (AGM) in July. The company has invited its shareholders to the meeting, scheduled for July 21 at 2100hrs at the Manhattan Business Hotel.
During the meeting, shareholders will approve the minutes of the 2022 AGM and the 2023 extraordinary meeting, the 2023 directors' report, and the audited financial statements. They will also appoint the company's external auditors for 2024 and set their remuneration. In addition, the Board of Directors will decide on proposals to be distributed to the shareholders.
The meeting will also include the election of directors to the Board for the next two years. MTDC announced that the meeting will be open to shareholders registered by July 17, with a pre-registration deadline of July 19. Shareholders can also register directly at the meeting venue on July 21 from 1930hrs to 2045hrs.
MTDC stated that proxies can attend the meeting on behalf of shareholders only through the company's share portal and the Maldives Securities Depository (MSD) "Infinity" online system. The company said that no physical documents or emails will be accepted and shareholders must register to attend the meeting via the portal.
MTDC was established in 2006 by the government to provide direct benefits to the residents of the Maldives. The company has been operating at a loss since 2010. However, the company is now recording profits with the efforts made to strengthen the company.