Ahli Bank's AGM/EGM Meetings Endorse Agenda, Approves Distribution of 10% Cash Dividend & 5% Bonus Shares

March 07, 2017

Ahli Bank announces the results of the Ordinary and Extraordinary General Assembly Meetings was held on Sunday 7/3/2017 and has approved the following resolutions: 

Wherein it has heard the Board of Directors report regarding the Bank’s activities and its financial position for the year ending 2016, discussing its future plans. Also it has approved the budget, profits and losses statements for the financial year ending on 31 December 2016. Approving the Board of Directors recommendation, to distribute 10% as cash dividends to the shareholder, in addition to 5% as bonus shares. Accordingly, the Assembly agrees that the bank’s capital to be capitalized with the amount of the bonus shares amounting to (9,540,156 shares), so the bank shares shall become 200,343,271 shares. 

- Also the Assembly has discussed and approved the governance report of the Bank for the year 2016.

- And, the Assembly has approved to discharge the Board of Directors of any liability and approving their remunerations.

-To appoint Bank’s Auditors for the year 2017 and determined its fees. 

- Approving renewing the authorization authority given to the Board of Directors by virtue of the General Assembly meeting held at 16 February 2016 related to appointing a new Expert Board Member to the Bank Board of Directors as the nine member. 

- And to elect the following members as the Bank Board of Directors:-

1-         Sheikh/ Faisal Bin AbdulAziz Bin Jassim Al Thani 

2-         Sheikh/ Nassir Bin Ali Bin Saoud Al Thani

3-         Sheikh/ Jassim bin Mohd. Bin Hamad Al Thani              

4-         Sheikh/ Fahd Bin Falah Bin Jassim Al Thani

5-         Mr/ Ahmed Abdul Rahman Nasser Fakhroo      

6-         Mr/ Victor Nazeem Agha

As an uncontested election for Three Years Starting from 2017 Till 2019.

- Also, the Extra - Ordinary Assembly approved the increase of the Bank’s Capital  by the amount of the free Bonus Shares  which has been distributed to the shareholders by virtue of the  said Ordinary General Assembly resolution, equal to 5% of the bank’s Capital amounting to (9,540,156 shares), so that the Bank’s capital shall become 200,343,271, and delegating the Board of Directors Members to conclude all the necessary procedures to amend the Articles of Association to reflect the foregoing.   

And Approved amending Articles numbers (6 , 7) of the Bank Articles of Association to reflect the increase of the Bank capital and authorizing Board of Directors to complete all the necessary procedures.