Gulf Finance House (GFH), which is listed on Bahrain, Dubai and Kuwait, said its ordinary and extraordinary general meetings were postponed for the second time due to lack of quorum.

Thus, the OGM and EGM will be held on Sunday, 12 April.

The OGM was scheduled to discuss writing off accumulated losses and cutting capital from $1.494 billion to $597.994 million.

The OGM will also discuss changing the company’s commercial name from “Gulf Finance House” to “GFH Financial Group B.S.C.”

The board proposed that GFH own up to 10% of its capital as treasury shares to support the market price of the share, which is also subject to the CBB’s approval.

GFH reported net profits of $17 million for the year ended 31 December 2014, against a net loss of $18 million in 2013.