Investors

Shareholders FAQ

Shareholders: Frequently Asked Questions

01Who are the shareholders of STO?

The Government of Maldives holds 919,869 shares with 81.37% shareholding in the Company, while the Public hold 207,041 shares with 18.63% shareholding.

There is no individual shareholder other than the Government, that hold up to 5% of the share capital.

02What is the area of operation?

STO is a Trading Company that provide fuel, construction materials, supermarket products, home appliances, staple food, medicine and medical equipment.

STO plc along with its majority owned subsidiaries form STO Group of Companies, where its business operations range from providing insurance services, LPG and medical gas, fuel distribution services, shipping and cargo vessel operations and manufacturing and selling of roofing sheets.

03Where and which year was STO incorporated?

STO was incorporated as a Government Company, Athireemaafannun Trading Account (ATA), on 20th December 1964 and renamed as State Trading Organization on 9th June 1979. STO became a public listed Company in 2001.

04What is the legal form of STO?

STO is a listed company with limited liability.

05What is the employee strength of the STO Group of Companies?

STO and its subsidiaries have over 4,000 staff employed.

06What is the registered address of STO?

STO Head Office
Kanbaa Aisa Rani Hingun, Maafannu
Malé 20345
Republic of Maldives
Tel: (960) 3344 333
Website: sto.mv

07When does the financial year of STO end?

On 31st December of every year

08Which stock exchange is STO listed on?

Maldives Stock Exchange

09Where can I obtain information on the financial results of STO?

You can obtain quarterly financial statements and annual reports from here .

10When is the Annual General Meeting held?

Before 30th May of every year

11What are the shareholders voting right at AGM?

Any resolution passed at an Annual General Meeting and Extraordinary General Meeting shall be by vote of the members.

Voting at all meetings of the Company shall be by show of hands where each member represent 1 (one) vote. In the event where members representing not less than 10% of the shares of the Company request, voting maybe conducted on poll basis. In this case each member shall be entitled to vote for each share held by him or her.

The chairman of the meeting shall be the sole judge as to the validity of every vote tendered at an Annual General Meeting or Extraordinary General Meeting and the results of the votes.

In case of any equality of votes at an Annual General Meeting or Extraordinary Meeting of the Company, the Chairman of the meeting shall be entitled to a casting vote in addition to his or her own vote or votes to which he or she is entitled as a member.

12When did STO make its IPO and what was the listing price? Were there any follow-on offerings?

Date of Issue	Total No. of Shares Offered	Issued Price	No. of Shares Subscribed	No. of Applications Received	Government Shares	Government %	Public Shares	Public %
15th Aug to 30th Sep 2001	111,555	MVR300	26,040	1,046	1,040,000	97.56	26,040	2.44
1st Sep to 30th Sep 2003	50,000	MVR400	60,870	1,240	1,040,000	92.29	86,910	7.71
25th Nov 2009 to 15th Apr 2010	138,472	MVR400	113,012	1,154	926,988	82.26	199,922	17.74
Provident Fund Share issue by Govt		MVR400	7,119	204	919,869	81.63	207,041	18.37

14When is dividend declared?

At the Annual General Meeting

15What is the policy on appointment of members to the Board of Directors?

You can find the policy here.

Year	Dividend per Share (MVR)	Year	Dividend per Share (MVR)
2002	118	2014	76
2003	110	2015	57
2004	70	2016	51
2005	55	2017	55
2006	82	2018	58
2007	70	2019	58
2008	65	2020	60
2009	68	2021	65
2010	68	2022	77
2011	72	2023	80
2012	75	2024	80
2013	24