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THE AGM AND EGM OF AHLI BANK ENDORSES ITEMS ON ITS AGENDA AND APPROVES THE DISTRIBUTION OF 10% CASH DIVIDEND AND 5% BONUS SHARES

Al Ahli ABQK 5.78% 4.12 0.23
Ahli Bank announces the results of the Ordinary and Extraordinary General Assembly Meetings was held on Tuesday 20/2/2018 and its entire agenda has been discussed and approved. Wherein it has heard the Board of Directors report regarding the Bank’s activities and its financial position for the year ending 2017, discussing Bank future plans. Also it has approved the budget, profits and losses statements for the financial year ending on 31 December 2017. 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 increased with the amount of such bonus shares amounting to (10,017,164 shares), so the bank shares shall become 210,360,435 shares. 

- Also the Assembly has discussed and approved the governance report of the Bank for the year 2017.

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


-Has appointed Deloitte & Touche as the Bank’s Auditors for the year 2018 and determined its fees. 

- 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 (10,017,164 shares ) so that the Bank’s shares shall become 210,360,435 shares.

And

the Extra - Ordinary Assembly Approved amending the following Articles of the Bank`s Articles & Memorandum of Association, as follows:-
1- Articles numbers (6 & 7) of the Bank Articles of Association, and Article Number (6) of the Bank`s Memorandum of Association to reflect the increase of the Bank capital.





2- Amending the Bank`s Articles & Memorandum of Association in order to reflect replacement of Qatar Foundation by Qatar Investment Authority  whenever stated in the the Bank`s Articles & Memorandum of Association , and to amend Articles (6 & 7) of the Bank`s Memorandum of Association , and Articles Number (6),(7),(26).(27) & (29) of the Bank`s  Articles of Association
3- Amending Articles (8) ,(27),(29),(31),(51) and (53) of the Bank`s Articles of Association and any other needed amendments in the Bank`s Articles of Association requested by the regulators in compliance to the requirements of the Companies & legal interties Governance listed in the Main Market issued by the decree no.(5) per year 2016 from QFMA Board.    

And

The Extra – Ordinary Assembly also has delegating the chairman of Board of Directors or the Vice Chairman or the executive Manager of the Legal Dpt. to conclude all the necessary procedures to amend the Articles & Memorandum of Association to reflect the foregoing, including the right to attend and sign all the needed documents before Authentication Department of Ministry of justice and Ministry of Economy and Commerce and any other official entities.      



To view The Bank’s financial performance highlights for 2017 , click here

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