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Results of Depa Limited Annual General Meeting

May 14, 2017

Depa Limited [Nasdaq Dubai: DEPA; “the Company”/”the Group”], one of the world’s leading interior contracting groups, held its Annual General Meeting (“AGM”) at 10.30am on 14 May 2017. The following resolutions were approved by shareholders:

Ordinary Resolutions:
Resolution 1
That the Company’s financial statements as at and for the financial year ended 31 December 2016 together with the notes thereto and the auditor’s report thereon, be and are hereby approved and adopted.

Resolution 2
Proposed resolution cancelled.

Resolution 3
That Mr. Roderick Maciver be and is hereby reappointed as a non-executive independent director of the Company in accordance with the Company’s articles of association.

Resolution 4
That the Board be and are hereby authorised to exercise all the powers of the company to issue and allot shares in the Company, or grant rights to subscribe for or to convert any security into shares in the Company, up to a total maximum amount of 30,000,000 shares.

Resolution 5
That PwC be and are hereby reappointed as independent external auditors of the Company to hold office from the conclusion of this meeting until the conclusion of the next general assembly meeting of the Company at which audited financial statements are laid.

Resolution 6
That subject to the above Resolution No. 5 having been passed, the Board be and is hereby generally and unconditionally authorised to determine the remuneration of the external auditors, PwC.

Special Resolutions:
Resolution 7
That the Company authorises the reduction of the Company’s share premium account to be used solely for the purposes of extinguishing accumulated losses of the Company and its share issuance costs reserve within twelve months of this Resolution No. 7 having been passed.

For further information, please contact:

Depa Limited
Tel: + 971 4 446 2100
Hamish Tyrwhitt, Group Chief Executive Officer
David Holiday, Group Chief Legal Officer and Company Secretary

For more information, please refer to the corporate website: www.depa.com

Notes to editors:

Depa is a strategic management company specialising in global interior solutions. Depa’s four Key Business Units hold leading positions in their respective markets: Design Studio, Vedder, Depa Interiors Group and Deco Group. Employing thousands of people worldwide, the Group’s operations are centred on three regional hubs: Asia, Europe and the Middle East.

Depa’s mission, shared by each of its Key Business Units, is to deliver sustainability, profitability and performance for our clients, shareholders and employees. The Group’s five core values are integral to everything Depa does: transparency, integrity, accountability, professionalism and exceptional service.

Depa Limited is listed on the Nasdaq Dubai (DEPA:DU) and is headquartered in Dubai, United Arab Emirates.

Cautionary statement:

This document contains certain ‘forward looking statements’ with respect to Depa’s financial condition; results of operations and business; and certain of Depa’s plans and objectives with respect to these items. By their very nature, forward looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward looking statements. All written or verbal forward looking statements, made in this document or made subsequently, which are attributable to Depa or any other member of the Group or persons acting on their behalf are expressly qualified on this basis. Depa does not intend to update these forward looking statements.

CONTACT US

Depa Group, Vision Tower,
35th Floor, P.O. Box 56338,
Dubai, U.A.E.
T: +9714-446-2100
F: +9714-446-2102
info@depa.com

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