AGM / EGM

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Resolution of the Annual Ordinary General Meeting of the Shareholders of the bank held on Sunday, 18th March, 2018

 

1.        Considered and approved the Report of the Board of Directors for the financial year ended 31st December, 2017.

 

2.        Considered and approved the Report on Corporate Governance for the financial year ended 31st December, 2017.

 

3.        Considered and approved the Board and its Committees Appraisal and Evaluation for the financial year ended 31st December, 2017.

 

4.        Considered the Auditor’s Report and approval of the Balance Sheet and Profit and Loss Accounts for the financial year ended 31st December, 2017. 

 

5.        Considered the report of the Shari’a Supervisory Board of Meethaq, the Islamic Banking window, for the financial year ended 31st December, 2017.

 

6.        Considered and approved the recommendation to distribute cash dividend at the rate of (30%) of the issued share capital of the bank (being 30 Baiza cash dividend for each share of a nominal value of 100 Baiza) for the financial year ended 31st December, 2017.  Cash dividend will be distributed to the shareholders as at the date of the meeting.

 

7.         Considered and approved the recommendation to distribute stock dividend at the rate of (5%) per share of the issued share capital of the bank (being 5 bonus shares for each 100 shares) for the financial year ended 31st December, 2017. Bonus shares will be distributed to the shareholders as at the date of the meeting.  The approval of the distribution of the bonus shares will result in the increase of the issued share capital of the bank from (2,709,361,852) shares to (2,844,829,944) shares of a nominal value of (100) Baiza each.

 

8.         Considered and ratified the sitting fees for the Board of Directors and its committees meetings for the financial year ended 31st December, 2017 and fixing sitting fees for (2018).

 

9.         Considered and approved the Board of Directors’ remuneration of RO. 124,700/- for the financial year ended 31st December, 2017. 

 

10.       Considered a Report on Related Party Transactions for transactions concluded during the financial year ended 31st December, 2017.

 

11.      Approved the appointment of M/s. PricewaterhouseCoopers, as the statutory auditors and the external independent Sharia auditors for Meethaq, the Islamic banking window of the bank, for the financial year 2018 and fixing their fees, subject to the applicable regulatory approvals.

 

 

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