By Dhiraagu successfully concluded its Extraordinary General Meeting (EGM) held online via the Fahivote platform (an online General Meetings Management System developed by Maldives Securities Depository Pvt Ltd).
The EGM was chaired by Mr. Ahmed Abdulrahman, the Deputy Chairperson of Dhiraagu. A total of 19 shareholders (16 shareholders and 3 shareholders represented by proxy) registered to participate in the meeting. The EGM concluded successfully with the passing of both proposed special resolutions by the required majority who were present and voting at the EGM:
- Special resolution to amend the Articles of Association.
- Special resolution to amend the Memorandum of Association.
During the EGM, Dhiraagu CEO & MD, Mr. Ismail Rasheed, shared key highlights of the first three quarters of 2024, including Dhiraagu’s improved financial performance for the first three quarters of 2024. By the end of Q3, the company achieved a revenue growth of MVR 129 million – representing a 6.6% increase compared to the previous year – with total revenue reaching MVR 2.1 billion and net profit increased by MVR 36 million to MVR 700 million, representing a growth of 5.4%. This growth reflects strong momentum across the majority of key business segments.
He also reflected on the successful landing of the SEA-ME-WE 6 (SMW6) submarine cable system in the Maldives, a landmark achievement which will directly connect the nation to key global internet exchange points and data centres, enhancing the quality and resiliency of service provided to customers.
Mr. Ismail Rasheed further highlighted the extension of Dhiraagu’s Fibre-to-the-Home (FTTH) service which has now reached 98% of households nationwide by the end of Q3, underscoring the company’s commitment to empowering digital communities. This was further reaffirmed by Dhiraagu being recognised as the ‘Fastest Mobile Network in the Maldives’ by Ookla® for the third consecutive year, a testament to its dedication to digital transformation and enriching the lives of people across the Maldives.