Shareholders of Renaissance Services SAOG attended the Annual General Meeting of the company held at the Meeting Hall of the Capital Market Authority. At the meeting, chaired by Renaissance Chairman Samir Fancy, shareholders approved the annual audited financials and annual report for the financial year ended 31 December 2007, and approved a cash dividend of 15% of the paid up Capital and stock dividend of 10% of the paid up Capital. Shareholders re-elected the Board of Directors and approved other matters including approval of an amount of RO 170,000 for corporate social responsibility programmes to be allocated out of the 2008 profits. Renaissance has announced revenues of RO 199.2 million, EBITDA of RO 43 million and net profit of RO 17.3 million for 2007. The Chairman’s Statement issued in the company’s 2007 Annual Report states that the results show a continued upward trend year-on-year with “revenue up 39.4%, operating profit up 26.68%, EBITDA up 27.9%, and Net Profit up 21.7%. These results show a compounded annual growth of 44.2% in revenue and 33.8% in operating profit over the last five years period (2003-2007). The return on shareholder funds has increased to 17.2% compared to 16.4% in the previous year. EPS has improved to 78 baizas per share against 66 baizas in 2006”. Renaissance CEO Stephen Thomas adds in the CEO Report “We have delivered another record year. We have delivered growth in the business and growth in shareholder value. We have made further strategic investments to drive sustained, superior performance over the years ahead”. Renaissance Services SAOG is an international services company listed on the Muscat Securities Market in the Sultanate of Oman, with a primary focus on providing safe, quality, efficient services to the oil & gas industry. Renaissance owns and operates a combined offshore support vessel fleet comprising of 61 vessels with another 11 vessels currently under construction. Renaissance has engineering businesses in oil & gas fabrication and afloat ship repair; and is a leading turnkey contract services provider, providing facilities management, facilities establishment, contract catering, operations & maintenance services. Renaissance employs over 10,000 people operating in over 16 countries.