Tehran- Annual shareholder meeting for the financial year to March 20 and an extraordinary general meeting (EGM) of Amlah Iran Mining Company was simultaneously convened at Tehran’s Talash Sports Complex.

The May-22 gathering was held at the presence of 78.28 percent of shareholders, representatives of legal entities that hold shares of the company, an independent auditor, a legal inspector and representative of the company to the Securities and Exchange Organization (SEO).   

The annual general meeting approved financial statements and decided to dish out a 1,430-rial payout per share. Also, an alteration to the articles of association of the company was approved by the EGM to comply with the SEO’s notice, Public Relations of Amlah Iran Mining Company reported.  

Mohammad Mahdi Borbor, chief executive of the company, welcomed shareholders, their representatives and other participants to the gathering, inviting members of the board of directors to run the session.

The meeting was chaired by Mohammad Reza Derakhshandeh, a representative of Sadr Tamin Investment Company (the parent company of Amlah Iran Mining Company).

Borbor, CEO, briefed the participants on the performance of the board of directors and the company during the financial year to March 20, 2023, the year that the company experienced a rise of 34 percent or more than 8,000bn rials in the income compared to the same period a year before. 

“The company’s exports increased by 127 percent [in the financial year to March 20, 2023] or 781bn rials compared to the previous year,” the chief executive said, adding that the company signed a memorandum of understanding with a Pakistani firm to develop exports of sodium sulfate.

Borbor explained that operating profit rose by 34 per cent to 3,951bn rials and net profit increased to 3,832bn rials.

On development projects, he said that a sample test for the first furnace of potassium sulfate was successfully carried out and measures were underway to complete the other three furnaces for trial run. 

Independent auditor, legal inspectors and members of legal board of directors of the company were chosen in the meeting.