REG - BankMuscat (S.A.O.G) - EGM and AGM Resolutions

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23/03/2022 08:15

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RNS Number : 7251F  BankMuscat (S.A.O.G)  23 March 2022

 

Date: 23(rd) March, 2022

 

RESOLUTIONS

 

Extraordinary General Meeting of the Shareholders of bank muscat held on
Tuesday, 22(nd) March, 2022:

 

 

1.    Approved the proposed amendments of the Articles of Association of
the Bank.  The proposed amendments shall not, however, be effective and valid
unless have been approved by the regulatory bodies.

 

Annual Ordinary General Meeting of the Shareholders of bank muscat held on
Tuesday, 22(nd) March, 2022:

 

1.       Considered and approved the Report of the Board of Directors
for the financial year ended 31(st) December, 2021.

 

2.       Considered and approved the Report on Corporate Governance for
the financial year ended 31(st) December, 2021.

 

3.       Considered the Auditor's Report and approved the Balance Sheet
and Profit and Loss Accounts for the financial year ended 31(st) December,
2021.

 

4.       Considered the report of the Shari'a Supervisory Board of
Meethaq, the Islamic Banking window, for the financial year ended 31(st)
December, 2021.

 

5.       Considered and approved the recommendation to distribute cash
dividend of 30 Baiza for each share for the financial year ended 31(st)
December, 2021.

 

6.       Considered and approved the recommendation to distribute stock
dividend at the rate of (5%) per share of the issued share capital of the Bank
(being 5 bonus shares for each 100 shares) for the financial year ended 31(st)
December, 2021.  The approval of the distribution of the bonus shares will
result in the increase of the issued share capital of the Bank from
(3,574,474,792) shares to (3,753,198,531) shares of a nominal value of (100)
Baiza each.

 

7.       Considered and ratified the sitting fees for the Board of
Directors and its committees' meetings for the financial year ended 31(st)
December, 2021 and fixing sitting fees for the current financial year.

 

8.       Considered and approved the Board of Directors' remuneration of
RO. 300,000/- for the financial year ended 31(st) December, 2021.

 

9.       Considered and approved the appointment of Shari'a Supervisory
Board of Meethaq, the Islamic banking window and fixing their sitting fees and
remunerations:

 

 Shari'a Board Member                   No.
 H.E Prof. Dr. Abdul Aziz K. Al Qassar  1
 H.E Dr. Abdullah bin Mubarak Al-Abri   2
 H.E Prof. Dr. Mohamad Akram Laldin     3
 H.E Dr. Ahmed Rufai Mohammed           4
 H.E Waleed bin Sulaiman Al-Qurri       5

 

10.     Approved the appointment of (E&Y) as the statutory auditors
for the Bank and the external independent Sharia auditors for Meethaq, the
Islamic banking window of the Bank, for the financial year ending 31(st)
December, 2022 and fixing their fees, subject to the applicable regulatory
approvals.

 

11.     The annual ordinary general meeting of the shareholders of the
Bank has by acclamation elected the Board of Directors for a new term of
office (2022-2025), subject to the regulatory approvals. The names of the
elected members of the Board of Directors are as follows:

 

 No  Board of Directors
 1   Sheikh Khalid bin Mustahail bin Ahmed Al Mashani
 2   Sheikh Ahmed bin Hamed bin Hilal Al Sadi
 3   Mr. Nasser bin Mohamed bin Salim Al Harthy
 4   Sheikh Said bin Mohamed bin Ahmed Al Harthy
 5   Sheikh Saud bin Mustahail bin Ahmed Al Mashani
 6   Mr. Khalid Nasser Al Shamsi
 7   Mr. J.S. George
 8   Brig. General Saif bin Salim bin Saif Al Harthi
 9   Dr. Faisal bin Abdullah bin Shaban Al Farsi

 

 

 

 

 

 

 

 

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