News
General Meeting for the Fiscal Year 2024
Invitation to the General Assembly Meeting
The Board of Directors is honored to invite the esteemed shareholder members to attend the General Assembly Meeting at 6:45 PM on Tuesday, April 15, 2025, via the electronic link www.smartagm.ae through the service provider using remote electronic means, as well as in person for those who wish to attend at Al Mushrif Cooperative Society headquarters to discuss the following agenda:
- Hearing and approving the minutes of the previous General Assembly meeting for the fiscal year ending on December 31, 2023.
- Hearing and approving the Board of Directors’ report on the Cooperative’s activities and financial position for the fiscal year ending on December 31, 2024.
- Issuing a special resolution to approve the new Articles of Association of the Society, prepared in accordance with Federal Decree-Law No. 6 of 2022 on Cooperatives and Cabinet Resolution No. 55 of 2024 regarding its Executive Regulations.
- Hearing and approving the auditor’s report for the fiscal year ending on December 31, 2024.
- Discussing and approving the Cooperative’s balance sheet and profit and loss account for the fiscal year ending on December 31, 2024.
- Discussing and approving the Board of Directors' proposal for profit distribution for the 2024 fiscal year.
- Discharging the Board of Directors for the fiscal year ending on December 31, 2024.
- Discharging the external auditors for the fiscal year ending on December 31, 2024.
- Appointing the external auditor for 2025 and determining their fees.
- Electing new Board members for the upcoming term.
Board of Directors Elections
The nomination period for Board membership will be open from Sunday, March 16, 2025, until Sunday, March 30, 2025. Interested candidates must submit an application using the designated form provided by the Cooperative’s management, along with a copy of a valid UAE ID, either in person or via email at info@almushrifcoop.com. A brief biography of the applicant must be attached.
- The number of Board members to be elected is seven (7) only.
- The Cooperative will publish the names of the candidates along with their biographies on the main announcement board at the headquarters, on the service provider’s platform, and on the Cooperative’s website after the nomination period closes.
Important Notes:
- The service provider will send SMS notifications to all shareholder members with their membership number, electronic link, and meeting instructions once the invitation is announced.
- Shareholders wishing to attend remotely must register on www.smartagm.ae to receive their username and password. Registration will be open one week before the meeting and until the meeting starts, provided that the submitted information is accurate and updated.
- Shareholders who register successfully will receive their username and password on Monday, April 14, 2025. Remote attendance registration will remain open until the start of the meeting. Early registration is recommended to avoid system congestion.
- For in-person attendance, members must register on the day of the meeting and present proof of their Cooperative membership (UAE ID).
Meeting Arrangements:
- The General Assembly Meeting will be conducted via the above-mentioned link, with the presence of the Chairperson, service provider, and meeting secretary. Ministry representatives, regulatory authorities, and auditors may attend either in person or remotely.
- Only registered Cooperative members have the right to attend and vote through electronic participation or in person.
- Members wishing to attend in person must confirm their attendance by calling (026448885) or emailing info@almushrifcoop.com no later than Monday morning, April 14, 2025.
- Members can review the previous General Assembly minutes, financial statements, external auditor’s report, Board report, and other related documents via www.smartagm.ae or by visiting the Cooperative’s headquarters within 15 days before the meeting.
Meeting Quorum:
- The meeting will be valid only if the majority of shareholder members are registered electronically or present in person.
- If the first meeting does not meet the required quorum, a second meeting will be held 30 minutes later, and it will be valid if at least 10% of shareholders or at least seven (7) members are present. The majority of attendees must not include Board members or Cooperative employees.
- Regarding Agenda Item No. (3), as per Article 29 of the Executive Regulations, issuing a special resolution requires at least 15% of shareholder members or 15 members to be present, with approval from two-thirds of attendees. The majority of attendees must be from outside the Board of Directors and Cooperative employees.
Proxy Voting:
- Any eligible General Assembly attendee may appoint another Cooperative member (excluding Board members and employees) as their proxy through a written special power of attorney that explicitly authorizes attendance and voting.
- The member’s signature on the proxy must be notarized by a Notary Public or a bank where the member holds an account.
- A member cannot represent more than one other member.
- The original proxy document must be submitted to the Cooperative’s management at least four (4) working days before the General Assembly Meeting. Late proxies will not be accepted.
For inquiries, please contact:
📞 Cooperative’s Contact Number: 026448885
📞 Service Provider’s Contact Numbers: 0507547940 / 0507547945
📂 Meeting Documents & Information:
AGM 2024
