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UGB - United Gulf Bank BSC
UGB - United Gulf Bank BSC
03/07/2013 | Press release
UGB Annual Ordinary General Assembly Meeting Agenda
distributed by noodls on 03/08/2013 08:53
AGENDA
ANNUAL ORDINARY GENERAL ASSEMBLY MEETING OF UNITED GULF BANK B.S.C.
Date & Time: Sunday 24th March, 2013 at 12:00 pm
Venue: UGB Tower - Diplomatic Area - Kingdom of Bahrain
1. Agree the minutes of the previous General Assembly Meeting held on the 12th of
December 2012.
2. Review the Board of Directors' report for the year ended 31st December 2012 and approve it.
3. Review the External Auditors' (Ernst & Young) report for the year ended 31st
December 2012.
4. Discuss and approve the Bank's Financial Statements for the year ended 31st
December 2012.
5. Approve the Board of Directors' recommendation on the transfer of US$ 1.105 million that is the equivalent of 10% of the Bank's net profit to the Bank's Statutory Reserves.
6. Approve the Board of Directors' recommendation on the transfer of US$ 1.105 million that is the equivalent of 10% of the Bank's net profit to the Bank's General Reserve.
7. Approve the Board of Directors' recommendation on the allocation of US$ 500 thousand as Board fees for the year ended 31st December 2012.
8. Approve the Board of Directors' recommendation on the donations amounting to US$ 200 thousand from the year's net profits to charitable and educational institutions in the Kingdom of Bahrain.
9. Approve the Board of Directors' recommendation of retaining the remaining balance of net profit amounting to US$ 8.12 million after the above mentioned appropriation as retained earnings for next year.
10. Discharge the responsibilities of the Bank's Board members from their legal actions for the year ended 31st December 2012.
11. Discuss the Bank's compliance with corporate governance guidelines and the
Central Bank's Code of Corporate Governance during the year 2012.
12. Election of Mr. Mohammed Haroon Nur Rehman as a new Board member for remainder of the existing Board term, subject to regulatory approval.
13. Appointment or Re-appointment of the Bank's External Auditors for the year 2013 and authorize the Board of Directors to specify their fees after obtaining necessary approval from the Central Bank of Bahrain.
