Galfar Engineering & Contracting (GECS.OM)

Galfar Engineering & ContractingChairman and managementMr. Salim Saeed Al Araimi, ChairmanMr. Al Araimi is the chairman of the board of directors at Galfar. He is also the chairman ofNational Drilling & Services, Al Khalij Heavy Equipment and Oman Packaging Company.Mr. Al Araimi also served as the Vice President of Oman Chambers of Commerce &Industry and as a board member of Franco-Arab Chamber of Commerce. He holds anhonorary degree of Doctor of Technology from the Glasgow Caledonian University, UK.His 18% stake in Galfar renders him the single largest shareholder.Dr. Hans Erlings, CEO and PresidentDr. Erlings joined Galfar in March 2006 following a 26-year employment with Shell.During his time with Shell, Dr. Erlings held various senior management positions acrossdifferent continents in the fields of engineering and management, the last of whichbeing the General Manager of the Nigeria operations. He was also engaged in businesswith Petroleum Development of Oman (34% owned by Shell) for seven years, where hemost recently held the positions of Engineering Director and Manager of Contracts andProcurement. Dr. Erling holds a degree in Material Engineering and a doctorate in PhysicalChemistry from the University of Delft in the Netherlands.Mr. S Muthukrishnan, CFOMr. Muthukrishnan is responsible for the company's financial operations from finance totreasury. He has more than 20 years of experience in the construction industry of which 8years are with Galfar. He holds a management program degree from the Indian Institute ofManagement (IIM).Ownership structureThe estimated free float in Galfar is 40%, with the remainder being held by the foundinginvestors. The largest stake is held by Salim Said Al Araimi, who holds an 18% share in thecompany based on the most recently available data.Public40.0%Galfar's ownership structureSalim Said Al Araimi18.0%P. Mohamed Ali10.0%Qhassya Projects &Investment2.5%PMA International Ltd.5.0%Aimmar UnitedInvestment & Projects12.0%Al Siraj Investment &Project12.5%Source: GalfarMarch 18th, 2010 5