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GFH’s shareholders elect new board, ratify dividends

GFH’s shareholders elect new board, ratify dividends
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Mubasher: GFH Financial Group’s annual general meeting (AGM) has elected a new board of directors for the next three years, according to a bourse filing.

The new board include Hisham Ahmad Alrayes, Ali Murad Ali, Darwish Abdulla AlKetbi, Ghazi Faisal AlHajeri, Abdulmohsen Rashed Al Rashed, Abdulla Jehad AlZain, Minwa bint Ali AlKhalifa, Abdulaziz Abdulhamid AlBassam, Rashed Nasser AlKaabi, and Fawaz Talal AlTamimi, according to a bourse filing.

Moreover, the AGM approved the previous board’s recommendation for the distribution of $0.0164 per share in cash dividends for 2023.

Shareholders also authorised the group to repurchase up to 10% of the total issued shares, subject to approval from the Central Bank of Bahrain.

Ghazi Al Hajeri, Chairman of GFH, stated: "Following another year of solid financial performance, we continue to focus on implementing the Group’s strategy and delivering top and bottom-line growth…We will continue to build on this momentum in 2024 and are committed to further progress and growth in the year ahead.”

Hisham Alrayes, CEO of GFH, said: "With the support of our shareholders, we are poised to navigate the evolving business landscape, capitalise on emerging opportunities, and drive sustainable growth for the benefit of all stakeholders.”

GFH holds over $21 billion of assets and funds under management (AUM) including a global portfolio of investments in logistics, healthcare, education and technology in the MENA region, Europe and North America.

It is worth noting that the group logged 7.69% higher consolidated net profits at $105.23 million in 2023, compared to $97.71 million in 2022.