* Doha Bank's Ordinary General Assembly also endorsed the board’s recommendation to distribute cash dividends to the shareholders by QR0.075 per share.
* Ordinary General Assembly endorses board’s recommendation to distribute cash dividends of QR0.075 per share.
Doha Bank shareholders approved "the extension of the period" for issuance of bonds under the bank’s Euro Medium Term Note (EMTN) programme during the Ordinary General Assembly, which was presided over on Monday by Doha Bank chairman Sheikh Fahad bin Mohamed bin Jabor al-Thani.
Sheikh Fahad said the EMTN programme was previously approved in an AGM held in March 2018 with the same following components and parameters: In varying amounts which would, in aggregate, not exceed the EMTN programme valuing $2bn; that no single deal would exceed $1.0bn; in various major currencies, including US dollar, Australian dollar, yen, Swiss francs, and sterling pound; to varying maturities not exceeding 30 years; be issued either by an SPV guaranteed by Doha Bank or through Doha Bank directly; total outstanding/due debt notes “bonds” of the bank should not exceed at any time the bank’s capital and reserves; to authorise the board of directors of Doha Bank and those authorised by the board to take all necessary actions to execute these issuances within the programme after obtaining the approval of the Qatar Central Bank, the Ministry of Commerce and Industry, and any other competent authorities; and delegation from ordinary AGM of shareholders would be valid for three years starting from the date of convention of the General Assembly meeting of the bank in March 2021.
During the EGM, Sheikh Fahad announced that the shareholders have unanimously approved the proposed amendments to articles (3) and (14) of the Articles of Association of the company and authorised the chairman and/or the vice chairman and/or the managing director to individually sign the amended Articles of Association and complete the procedures for obtaining the necessary approvals from the competent authorities, and ratifying the authorisation.
Also, the meeting endorsed the board of directors’ 2020 corporate governance report, balance sheet, and profit and loss account for the financial year ended on December 31, 2020.
It also endorsed the board’s recommendation to distribute cash dividends to the shareholders by QR0.075 per share. During the same meeting, Sheikh Fahad and board members were discharged from the responsibility for the year 2020 and agreed to pay remunerations for board members for this year. He also stated that the AGM has appointed KPMG to audit Doha Bank’s accounts for 2021.
Sheikh Fahad also extended his sincere thanks and gratitude to the board members and to the shareholders, representatives of the supervisory authorities in the State of Qatar, and the auditors for attending the meetings and wished them success and prosperity.