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19 Mar 2012 08:02
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The following resolutions was passed in the Annual General Meeting held on 18th March, 2012.
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1. Approval of the Report of the Board of Directors for the financial year ended 31st December, 2011.
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2. Approval of the Corporate Governance Report for the financial year ended 31st December, 2011, as on the annexure.
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3. Approval of the Auditor's Report and the audited financial statements for the financial year ended 31st December, 2011.
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4. Approval of the distribution of cash dividend at the rate of (25%) of the issued share capital of the Bank (being 25 Baisa per share) for the financial year ended 31st December, 2011.
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5. Approval of the Board of Directors' recommendation to distribute stock dividend at the rate of (15%) per share of the issued share capital of the Bank (being 15 bonus shares for each 100 shares) for the financial year ended 31st December, 2011.
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6. Approval of the sitting fees for the Board of Directors and its committees'meetings for the financial year ended 31st December, 2011 amounting to RO. 72,250/- and fix sitting fees for the financial year 2012.
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7. Approval of the Board of Directors' remuneration of RO. 127,750/- for the financial year ended 31st December, 2011, as explained on the annexure.
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8. Approval of the Related Parties' Transactions for transactions concluded during the financial year ended 31st December, 2011.
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9. Approval of the Board of Directors' recommendations to lease two branch premises from a related party for (2012-2016) on yearly renewable leases at the same rental amounts, subject to the requirements of the Bank.
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10. Approval of the appointment of statutory auditors for the financial year 2012 and approval of their remuneration.
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