Bankmuscat Regs Regulatory News (BKM)

Notice For Annual Ordinary and Extra Ordinary General Meeting

The Board of Directors of BANK MUSCAT ( the "Company") has the pleasure to invite the shareholders to attend the Annual General Meeting, which will be held at 04:00 PM on 23/03/2021, via the electronic platform to hold general meetings which can be assessed through the website of Muscat Clearing & Depository Company (www.mcd.gov.om). If the quorum requirement for holding the Annual General Meeting is not fulfilled, a second Annual General Meeting shall be held at 04:00 PM on 25/03/2021, to discuss the following agenda:

Extra Ordinary Agendas:

1. To consider and approve the proposed increase of the authorized share capital of the Bank from RO. 350,000,000/- to RO. 450,000,000/- and amend the Articles of Association accordingly

Ordinary Agendas Annual:

1. To consider and approve the Board of Director's Report for the financial year ended 31 December 2020.

2. To consider and approve the Corporate Governance Report for the financial year ended 31December 2020.

3. To consider the Auditor's Report and to approve the Financial Statements (Balance Sheet and Profit and Loss Account) of the Bank for the financial year ended 31 December 2020.

4. To consider the report of the Shari'a Supervisory Board of Meethaq, the Islamic Banking window, for the financial year ended 31st December, 2020.

5. To consider and approve the proposed cash dividend to the shareholders, as on the date of the meeting, amounting to 25 baisa for each share for the financial year ended 31 December 2020.

6. To consider and approve the recommendation to distribute stock dividend at the rate of (10%) per share of the issued share capital of the Bank (being 10 bonus shares for each 100 shares) for the financial year ended 31st December, 2020. The approval of the distribution of the bonus shares will result in the increase of the issued share capital of the Bank from (3,249,522,539) shares to (3,574,474,792) shares of a nominal value of (100) Baiza each.

7. To consider and ratify the sitting fees for the Board of Directors and its committees' meetings for the financial year ended 31st December, 2020 and fixing sitting fees for the current financial year.

8. To consider and approve the Board of Directors' remuneration of RO. 150,000/- for the financial year ended 31st December, 2020.

9. To consider the Related Party Transactions for transactions concluded during the financial year ended 31st December, 2020.

10. To consider and approve the Related Party Transactions that will be concluded during the financial year ending 31st December, 2021.

11. To appoint 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 31st December, 2021 and fixing their fees, subject to the applicable regulatory approvals

According to the Company's Articles of Association and the controls for holding General Meetings using modern technology issued by the capital market authority, we would like to draw your attention to the following:

1. Legal person, exclusively, has the right to delegate a natural person to attend the General Meeting and vote on its behalf through technical means, provided that this natural person has an investor number in MCDC.

2. Voting on any of the agenda items begins no more than three days before the date of the General Meeting until the voting process ends on the day of the General Meeting. If the shareholder's shares are increased or decreased, the voting process will be canceled, and the shareholder will have to vote again on the day of the General Meeting.

Chairman Legal Advisor External Auditor

Bank Muscat / Legal Ernst & Young