Qatar Islamic Bank (QIB) has announced that the general assembly meeting will be held virtually on Zoom, following the preventative measures adopted by the State of Qatar to limit the spread of Covid-19 recently announced.
Shareholders are invited to attend the bank’s annual ordinary general assembly meeting electronically on Monday, February 22, 2021 at 4.30pm, where the board will discuss the meeting’s agenda. If a quorum is not met, the alternative virtual meeting will be held on Tuesday, March 2, 2021.
The key points in the agenda include board of director’s report on the results of the bank and financial statements for year ended December 31, 2020 and discussion of the plan for 2021, discussion and approval of the bank’s balance sheet and profit and loss for the year ended December 31, 2020, approval of the board of directors’ proposal to distribute 40% cash dividends of the nominal value per share, ie QR0.40 per share, increase the limit for QIB’s US dollar Sukuk programme to become $5bn instead of $4bn, subject to Qatar Central Bank (QCB) approval.
QIB announced the participation and voting procedures for the meeting, whereby shareholders, or their proxies, will be required to send a copy of the following documents to [email protected] – a copy of an identification document (Qatar ID or passport), copy of the invitation letter, mobile number, NIN number, and copy of the duly completed proxy form (blank copy can be downloaded from www.qib.com.qa/en-proxyform) and supporting documents for representatives in case of shareholders authorising a proxy to speak or vote on their behalf.
Upon receipt and verification of the above documents, a Zoom link will be shared with the shareholder or the proxy to confirm their attendance and registration.
QIB stressed that the registration of the shareholders or their proxies will start at 1pm on February 22, 2021. Following the completion of the above registration, the second virtual link for Zoom will be shared by email directing the shareholder or their proxy to the electronic meeting room.
During the meeting, shareholders or their proxies will be able to discuss the agenda items and address their questions to the board of directors by sending them in the chat box available on Zoom.
In case a shareholder or a proxy has an objection to one of the voted agenda items, they will be able to use the ‘raise hand’ feature in Zoom to express their objection during the voting process. If a shareholder or a proxy does not ‘raise hand’, the vote will be considered as the approval of the agenda item.
