BAHRAIN'S PEARL OF GREAT PRIDE - Batelco Group

8 Batelco - Annual Report 2010CHAIRMAN’S STATEMENT“THE SUPPORT OF OUR EMPLOYEESHELPS US TO BUILD ON OUR BRAND’SSTRENGTH WHICH IS OF KEYIMPORTANCE AS WE EXPAND INTONEW LOCATIONS IN THE REGION ANDFURTHER AFIELD.”On behalf of the Board of Directors, it gives me great pleasure to present the 29th Annual Report of theWe are pleased to have delivered steadyshare in Bahrain caused by increasedcompetition and regulatory decisionswhich limit Batelco’s growth in a heavilyshare of expected losses for its start-upOur strategy to grow and diversifythe Group through our expansionprogramme continues to be successfulBatelco’s customer base, which reachedProposed Appropriationsbefore appropriations amounted toresults, the Board of Directorshas recommended for the approvalof shareholders, the followingappropriations and Directors'remuneration for the year 2010:BD millions 2010 2009AppropriationsFinal dividends proposed 36.0 43.2Interim dividends paid 28.8 28.8 2.2 2.6Transfer to general reserve 15.0 –Directors' RemunerationDirectors' remuneration 0.4 0.4AuditorsThe Board of Directors will recommendongoing support of the Kingdom ofBoard of Directors, management and allstaff, I extend my great appreciation toHis Majesty King Hamad Bin Isa Al Khalifa,King of Bahrain, His Royal Highness PrinceKhalifa Bin Salman Al Khalifa, The PrimeMinister, and His Royal Highness PrinceSalman Bin Hamad Al Khalifa, CrownBatelco is committed to principle-based,which embraces the governanceprinciples led by the Ministry of Industryand Commerce and developed by theIn preparation for the introductionof mandatory Corporate GovernanceCompliance in the Kingdom of Bahrainall the necessary steps during 2011, toensure that we remain fully compliant