BankDhofar EGM approves increase of authorised capital to RO 500 milli

30/03/2017 05:45 AST

The Extraordinary & Annual General Meetings (EGM & AGM) of Bank Dhofar was held on Monday at Grand Hyatt Hotel.

The EGM/AGM was attended by the shareholders of the bank, the Chairman and members of the Board of Directors, Sharia Supervisory Board for Maisarah Islamic Banking, the Legal Adviser of the Bank, the representatives of the statutory Auditors of the Bank, Ernst & Young and the CMA delegate.

The Extraordinary General Meeting (EGM) approved the increase of authorised capital from RO 220 million to RO 500 million and amendment of Articles of Association.

Also approved was the update for the setup of the Euro Medium Term Note (EMTN) programme.

The Annual General meeting approved the Corporate Governance report, the report of the Board of Directors and the Financial statements for the financial year ended December 31, 2016, in addition to the report of Sharia Supervisory Board for “Maisarah” Islamic Banking Services for the same financial year.

The meeting also approved the proposed cash dividend of 13.5 per cent (13.5 baisa per share) and a bonus share issue of 7.5 per cent (75 shares per 1,000 shares) of the share capital of the bank.


Oman Daily Observer

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