Invitation to the Ordinary General Assembly Meetings (2/ 2018)
To download the Proxy, please click here.
Al Salam Bank-Bahrain (B.S.C) would like to inform the shareholders that the Bank’s first Ordinary General Assembly Meeting on Wednesday, 7 March 2018 was not convened due to the quorum was not present. The Chairperson of the Board of Directors of Al Salam Bank-Bahrain (B.S.C) cordially invites the respective shareholders to attend the Second meeting of the Ordinary General Assembly Meeting, to be held on Thursday, 22 March 2018, at 10:00a.m. at Manama Ballroom1, The Four Seasons Hotel, Manama, Kingdom of Bahrain. In case quorum is not present on this date, another meeting will be held on Sunday, 8 April 2018 at the same venue and time. The Agenda of the Ordinary General Assembly Meeting:
- To read and approve the minutes of the previous Annual Ordinary General Meeting held on 8 March 2017.
- To discuss and approve the Board of Directors’ report on the Bank’s activities for the year ended 31 December 2017.
- To receive the Shari’a Supervisory Board’s report for the year ended 31 December 2017.
- To receive the external auditor’s report for the year ended 31 December 2017.
- To discuss and approve the financial statements for the year ended 31 December 2017.
- To authorize and ratify the operations and transactions carried out during the year ended 31 December 2017 with any related parties or major shareholders of the Bank as outlined in the Board of Directors report presented to the general assembly and as presented in the notes (no. 29) to the consolidated audited financial statements and approve the same, in line with Article 189 of Bahrain Commercial Companies Law.
- To appropriate the net profit for the year ended 31 December 2017 upon the recommendations of the Board of Directors as follows:
To receive the report on the Bank’s compliance with the Corporate Governance Guidelines and the Central Bank of Bahrain’s requirements. To absolve the members of the Board from liability for their actions during the year ended 31 December 2017.To appoint or reappoint the Shari’a Supervisory Board for the year ending 31 December 2018 and authorize the Board of Directors to determine their remuneration.To appoint external auditors for the year ending 31 December 2018 and authorize the Board of Directors to determine their remuneration, subject to the approval of the Central Bank of Bahrain.Elect/ appoint the members of the Board of Directors for the next term of three years, subject to the approval of the Central Bank of BahrainTo discuss and approve any other matters that may arise as per Article 207 of the Commercial Companies’ Law.
- Transfer of BD 1,809,900 to statutory reserves.
- Distribution of dividends of 7 fils per share or 7% of the paid up share capital, amounting to BD 14,986,515 for the year ended 31 December 2017, subject to the Central Bank of Bahrain approval. All dividends shall be distributed by no later than 1 April 2018.
- Approve Board of Directors remuneration in the aggregate amount of BD 415,000 for the year ended 31 December 2017, subject to the necessary approvals of the regulatory bodies.
Important notes to the shareholders:
- You can download the consolidated financial statements for the year ended 31 December 2017 and a copy of the proxy letter through the Bank's website: www.alsalambahrain.com and Bahrain Bourse website: www.bahrainbourse.com
- Shareholders whose names are registered in the share register of the Bank on the date of the meeting are entitled to attend in person, or appoint in writing a proxy to attend the meeting and vote on behalf of such shareholder, provided such proxy is not a director or employee of the Bank (unless the proxy is a first degree relative of that shareholder).
- For submission of proxy or representative authorization documents (“Appointment Documents”), the “Submission Deadline” shall mean receipt of the relevant documents by Al Salam Bank, 14th Floor, East Tower, World Trade Center, P.O. Box 18282, Manama, Kingdom of Bahrain, no later than 24 hours before meeting date. Appointment Documents may be provided by hand delivery, post, or facsimile transmission (fax no.: +973 17131073) or by E-mail: firstname.lastname@example.org provided the same are received prior to the Submission Deadline. Appointment Documents received after the Submission Deadline shall be invalid for the purposes of the meeting.
- In the case of an institutional shareholder, the representative attending the meeting must submit a letter of appointment of representative duly appointing the relevant person as the respective shareholders representative. The appointment must be in writing, issued by an authorized person of the institution, sealed under the company’s stamp and provided to the registrar prior to the Submission Deadline.
- For any inquiry please contact the Investor Relations Department on: +973 17133399.