ahlibank holds its Annual Extraordinary General and Ordinary General Meetings

ahlibank holds its Annual Extraordinary General and Ordinary General Meetings

Muscat: ahlibank organised its Annual General Meeting (AGM) and Extraordinary General Meeting (EGM), on Wednesday, March 27via an electronic platform for general meetings through the Muscat Clearing and Depository’s (MCD) website.

The meeting was presided over by Hamdan Ali Nasser Al Hinai, Chairman of the Board of Directors, and was attended by the board members, senior management, and shareholders.

During the Extraordinary General Meeting (EGM), the shareholders reviewed and approved the issuance of 103,661,359 free mandatory convertible bonds to the bank’s shareholders, with one bond issued for every 22.666667 shares, having a nominal value of 100 Baiza plus an issuance expense of 2 Baiza per bond. This equates to a dividend of 4.5 Baiza per share, totalling OMR10,573,458.618 for the fiscal year ending December 31, 2023.

Additionally, during the Annual General Meeting (AGM) the shareholders approved the Board of Director’s Report on the Bank’s activities and its financial position for the fiscal year ended December 31, 2023. Shareholders also approved the Bank’s Organisation and Management Report (Corporate Governance Report), the Auditor’s Report on the Bank’s Audited Financial Statements and the Sharia Compliance Report of ahli Islamic for the year ended December 31, 2023. Moreover, the Bank’s shareholders approved the dividend distribution of 9