Doha Bank announced the results of the Ordinary General Assembly meeting held on 03/17/2024, where the following was approved:
1. The Ordinary General Assembly of Doha Bank shareholders unanimously approved the Board of Directors’ report on governance for the year 2023.
2. The Ordinary General Assembly of Doha Bank shareholders unanimously approved the balance sheet and profit and loss account for the financial year ending on 12/31/2023 and the Board of Directors’ recommendation to distribute cash dividends to shareholders at the rate of (0.075) Qatari riyals per share.
3. The Ordinary General Assembly of Doha Bank shareholders unanimously agreed to absolve the Chairman and members of the Board of Directors from liability for the financial year ending on 12/31/2023 and to approve the payment of the remuneration scheduled for the members of the Board for this year.
4. The Ordinary General Assembly of Doha Bank shareholders unanimously approved the following: A. The remuneration policy for members of the Board of Directors B. The performance-based remuneration policy.
5. The General Assembly of Doha Bank shareholders unanimously agreed to extend the term of issuing bonds under the umbrella of the Euro Medium Term Bond Program in accordance with the following conditions and specifications:
- The issuance shall be made in various amounts that do not exceed in aggregate at any time the ceiling of the European Medium-Term Debt Bond Program of 3 billion US dollars.
- The value of any single transaction must not exceed 1 billion US dollars.
- The issuance shall be made in various major currencies, including but not limited to the US dollar, the Australian dollar, the Japanese yen, the Swiss franc, the British pound, the euro, the Qatari riyal and any other currency agreed upon between the “issuer” and the “sponsor” ( In the case of guaranteed bonds) and the “dealer”.
- The issuance shall be made with various maturities not exceeding 30 years.
- Issuance either through a special purpose entity under the guarantee of Doha Bank or through Doha Bank directly.
- The total outstanding debt securities issued or guaranteed by Doha Bank shall not, at any time, exceed the bank’s capital and reserves.
- Authorizing the Board of Directors of the esteemed Doha Bank, or whomever the Board delegates, to take all necessary measures to implement these issuances within the program after obtaining the approval of the Qatar Central Bank and any other competent authorities.
- The authorized signatory is also authorized to handle all aspects related to submitting an application to list any bonds issued under the program on any of the appropriate exchanges, and this authorization includes the authority to negotiate, agree, execute and deliver any required forms or documents related to the application (“Listing Documents”).
The authorization obtained by the Board of Directors from the General Assembly of Shareholders is valid for a period of three years starting from the date of the Doha Bank General Assembly in March 2024, with the Board authorized to renew the program on the same terms and conditions stated above for another three years.
6. The Ordinary General Assembly of Doha Bank shareholders unanimously approved the appointment of Messrs. “PricewaterhouseCoopers” to audit and review the bank’s accounts for the financial year ending on December 31, 2024, including Islamic activities and the accounts of foreign branches (except the Indian branches), in addition to the accounts of Sharq Insurance Company and the Investment Fund. And periodic reports related to the requirements of the Qatar Central Bank during the year 2024 and the governance system for companies and legal entities listed on the main market issued by the Qatar Financial Markets Authority, in the amount specified in the offer submitted by them.