Last checked at 17 Mar 2014 14:21
Resolutions of Commercial Bank AGM of 16 March 2014
The Ordinary General Assembly approved all items listed on its Agenda:
1. The Shareholders heard the Chairman's Statement and the report of the Board of Directors on the activities of the Company and its financial position for the financial year ended 31.12.2013, and the future plans of the Company.
2. The Assembly heard the Auditors' report on the Company's financial statements presented by the Board of Directors for the financial year ended 31.12.2013.
3. The Company's financial statements for the year ended 31.12.2013 were discussed and approved.
4. The Assembly approved the Board of Directors recommendation to distribute a cash dividend of 20% of the share's nominal value to the shareholders for 2013, i.e. QAR2/- for each share held, and bonus shares of 20% i.e. one share for every five held, subject to the approval of the Extraordinary General Assembly.
5. The Directors of the Board were absolved from liability for the financial year ended 31.12.2013.
6. The Shareholders approved the remuneration of the Directors of the Board for the year ended 31.12.2013 and the policy defining the basis of calculation of remuneration granted to them.
7. The Shareholders approved re-appointment of KPMG as the external auditors for the year 2014 and approved their remuneration.
8. The Corporate Governance Report 2013 was presented.
9- The Assembly elected the following directors for a term of three years:
1. Sh Abdulla bin Ali bin Jabor Al Thani
2. Mr Hussain Ibrahim Al-Fardan
3. Mr Jassim Mohd Jabor Al Mosallam
4. Mr Abdulla Mohd Ibrahim Al Mannai
5. Qatar Insurance Company (Represented by Mr Ali Mohd Ghanim Al Mannai)
6. Mr Omar Hussain Ibrahim Al-Fardan
7. Sh Jabor bin Ali bin Jabor Al Thani
8. HE Mr Abdul Rahman bin Hamad Al Attiyah
9. M/S Savings Development Company LLC (Presented by Mr. Mohd Ismail Mandani Al Emadi
The following was elected as reserve member:
1- Hassan bin Hassan Al Mulla and Sons Trading Company (Represented by Mr Ahmad bin Hassan Al Mulla Al Jufairi)- First Reserve Member
At a Board Meeting held following the Ordinary and Extraordinary General Assemblies, the following directors were elected as office holders on the Board for a period of 3 years:
1. Sheikh Abdulla bin Ali bin Jabor Al Thani -Chairman
2. Mr. Hussain Ibrahim Al-Fardan - Deputy Chairman & Managing Director
************
Resolutions of Commercial Bank EGM of 16 March 2014
The Extraordinary General Assembly approved all items listed on its Agenda:
1. The Assembly approved the increase in the Bank's capital by 20% from QR 2,474,463,720 to QR 2,969,356,460 by issuing bonus shares to the shareholders on the basis of one new share for every five shares held.
2. The Shareholders approved the amendment of Article (6) of the Articles of Association concerning the Bank's capital to reflect the increase in capital.
************