With regard to our prospects during the present year, you will have een that our Hurghada production again shows -a small decline, and unless some of the wells which we expect to complete prove successful, it will not equal that of last year, Prices for products have so far been maintained, and if this continues I hope that our results for the year may be reasonably satisfactory, I now beg to move: "That the directors' report and accounts for the year 1036 be and they are hereby approved and adopted," ang I will ask Mr. Fraser to second the resolution, Before putting it to the meeting, I shall be pleased to answer as far as I can any questions which shareholders may wish to ask.
Mr, William Fraser, C.BE,, seconded the resolution, and it was carried unanimously, The Chairman then proposed: "That a dividend be paid for the year 1936, in accordance with the articles of association, equal to 12% per cent. upon the 'B' shares, less tax,"
Sir A. Henry McMahon, G.C.M.G., seconded the motion, and it was unanimously approved.
Text read from the printed page and cleaned; old type leaves the occasional error.