STO to host shareholder engagement meeting

State Trading Organization (STO) on Tuesday, has announced it is scheduled to host an informal meeting among shareholders to discuss the corporation's business activities, operations and other details related to the upcoming annual general meeting.

STO said, that its informal shareholder engagement meeting will be scheduled for 11:00hrs on Saturday, June 08th at the 4th floor of STO Trade Center, Male'.

Interested shareholders who wish to participate in the meeting must register for it before 11:00hrs on June 07th through portal.sto.mv, added STO.

Due to the shareholder engagement meeting being an informal event, STO added that shareholders cannot assign proxies to attend for it in their stead.

All shareholders who are aged 16 and above at the time of registration to partake in the meeting are eligible to attend.

The meeting's agenda include providing updates about STO's preparations for the upcoming annual general meeting and the annual report for 2023. Besides this, agenda items include strategic discussions and exchange of ideas between the shareholders.

According to the first quarter report of 2024, STO generated a profit-after-tax of MVR 195 million, out of which 83 percent of the revenue was generated from fuel sales.

STO is also the most transparent among the state-owned enterprises.