CAMGSM PLC. Holds Landmark First Annual General Meeting
CAMGSM PLC., commercially known as Cellcard, one of Cambodia's leading telecom providers and a member of the Royal Group of Companies, strengthened its commitment to open communication with its inaugural Annual General Meeting (AGM) held via Zoom on June 28, 2024.
The press release said this event marks a significant step towards fostering dialogue and accountability with its shareholders. During the meeting, Cellcard also celebrated its growth in the first quarter revenue of 2024, with the company's after-tax profits increasing by 25 billion riel, marking a 66 per cent increase from the same period in 2023.
Cellcard's total comprehensive income also saw a significant rise, soaring by 32 billion riel reflecting a 123 per cent growth.
The 32 shareholders in attendance represented 1,950,022,362 shares and formed a quorum of 99.53 per cent.
What Did Cellcard's Annual General Meeting 2024 Cover?
Shareholders who attended the AGM approved the following agenda items:
- Distribution of a Guaranteed Minimum Dividend: Ensuring shareholders receive a guaranteed minimum dividend every three months.
- Issuance of Additional Equity Securities: Exploring the issuance of new shares on the Stock Exchange of Thailand (SET) to unlock additional capital for telecom network expansion.
- Articles of Incorporation: Amending the Articles of Incorporation to align with Cellcard's evolving business landscape.
- Financial Performance Review: Reviewing and approving the company's consolidated financial statements for the fiscal year ending December 31, 2023, to reaffirm Cellcard's robust financial position.
Cellcard Explores Listing On The Stock Exchange Of Thailand (SET)
Cellcard's press release shared that the telecom company is exploring listing on the Stock Exchange of Thailand (SET), following its successful listing on the Cambodia Securities Exchange (CSX), with a commitment to bolstering the two securities markets in the region.
“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,” the release added.
Simon Perkins, CEO of Cellcard, also emphasised the importance of open communication with shareholders by stating:
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.
Launched in 1997, Cellcard is Cambodia's longest-serving and only homegrown operator, reputed for its history of first-to-market innovations, top of the line customer service, and a fast and reliable mobile network. As one of the biggest telecommunication companies in the Kingdom, Cellcard services over four million customers and has nationwide coverage with an expansive dealer and distribution network.
This article was adapted from a supplied press release.