Cambodia Investment Review

CAMGSM Plc. Rings In Transparency With Landmark First Annual General Meeting

CAMGSM Plc. Rings In Transparency With Landmark First Annual General Meeting

Cambodia Investment Review

CAMGSM PLC commercially known as Cellcard, a leading Cambodian telecom provider and member of the Royal Group of Companies, strengthened its commitment to open communication with its inaugural Annual General Meeting (AGM) via Zoom held on June 28th, 2024. This event marks a significant step towards fostering dialogue and accountability with its shareholders.

Cellcard isn’t just holding a meeting; it’s celebrating a remarkable first quarter of the financial year 2024. In the first quarter of the financial year 2024, after-tax profits surged by an impressive 25 billion riels, marking a phenomenal 66% increase from​ the same quarter of last year. Total comprehensive income also saw a significant rise, soaring by 32 billion riels, reflecting a remarkable 123% growth.

Cellcard First Annual General Meeting 2024.

Read More: CAMGSM Plc. Achieves Remarkable Q1-2024 Financial Growth

On Friday of the Annual General Meeting (June 28, 2024), shareholders voted to approve all four items on the agenda, representing 99.53% of the total shares valued at 1,950,022,362 shares.

The inaugural AGM isn’t just ceremonial. Shareholders played a crucial role in shaping Cellcard’s future by voting on the following four agenda items:

  1. Distribution of Guaranteed Minimum Dividend: Ensuring shareholders receive a guaranteed minimum dividend every three months.
  2. Issuance of Additional Equity Securities:  Exploring issuance of new shares on the Stock Exchange of Thailand (SET) to unlock additional capital for the Telecom network expansion.
  3. Articles of Incorporation: Amending the Articles of Incorporation to align with Cellcard’s evolving business landscape.
  4. Financial Performance Review: Shareholders reviewed and approved the company’s consolidated financial statements for the fiscal year ending December 31, 2023, reaffirming Cellcard’s robust financial position.

Making a strategic leap forward, Cellcard’s pursuit of a dual listing on the Stock Exchange of Thailand (SET), following its successful listing on the Cambodia Securities Exchange (CSX), underscores its commitment to bolstering the securities markets in both nations. This strategic move strengthens Cellcard’s financial flexibility and governance, elevates the company profile, and facilitates further Telecom network expansion. By participating in the two dynamic markets, Cellcard aims to significantly contribute to developing the securities market across Cambodia and Thailand.

Cellcard First Annual General Meeting 2024.

Simon Perkins, CEO of Cellcard, emphasized the importance of open communication with shareholders: “Transparency and shareholder engagement have been the pillars of Cellcard’s successful listings on Cambodia Securities Exchange (CSX). This approach has enabled essential capital injections for Telecom network expansion, empowering us to bridge the digital divide and empower underserved communities across Cambodia.”

For further information on CAMGSM PLC. and its initiatives, please visit the company website https://www.cellcard.com.kh/en/

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