BankDhofar Holds Extraordinary General Meeting

The Board of Directors of BankDhofar has conducted its Extraordinary General Meeting EGM on Wednesday 5 July. The meeting, was chaired by Eng. Abdul Hafidh Salim Rajab Al Ojaili, Chairman of the Board, and attended by the Board members, Senior Management of the Bank and Shareholders.

The Extraordinary General Meeting EGM approved increasing the Bank’s authorized share capital from OMR 500,000,000 to OMR 750,000,000, and to amend Article 5 of the Articles of Association of the Bank to reflect the same.

The meeting approved increasing the Bank’s issued share capital from OMR 299,635,144 up to a maximum of OMR 470,000,000 (the New Issued Capital), and approve the allocation of the New Issued Capital in favour of the shareholders of Ahli Bank SAOG who has elected to receive shares in the Bank as a result of the takeover in line with the terms of the explanatory memorandum and amending Article 5 of the Articles of Association of the Bank following the completion of the takeover to reflect the New Issued Capital, and register the same with the Ministry of Commerce, Industry, and Investment Promotion.

Additionally, the meeting approved authorizing the Board of Directors of the Bank and any other person authorized by the Board of Directors to take all actions and do all things necessary to give effect to the resolutions of the EGM outlined above, and obtain the required approvals from the relevant authorities in such manner or form as they may in their absolute discretion see fit.