EGM and AGM Resolutions

BankMuscat (S.A.O.G)

27 March 2024

 

Date: 27^th March 2024

RESOLUTIONS

First: Extraordinary General Meeting of the Shareholders of bank muscat held on Tuesday, 26^th March, 2024:

1.      Approved the renewal of Euro Medium Term Note Programme (the EMTN Programme), including the capital markets Alternative Programmes, and the issue of international Additional Tier 1 instruments up to an aggregate amount of US$ two Billion.

2.      Approved to authorize the Board of Directors of the Bank or such person or persons as the Board of Directors may delegate or authorize from time to time, to determine and approve the terms of any issuance under the EMTN Programme, the establishment of and any issuances under any Alternative Programme and any AT1 Instrument.

3.      Approved that the Board of Directors of the Bank or its authorized representative or delegates shall, from time to time, determine the period of presentation of, the bonds to be issued under the EMTN Programme, any issuance under any Alternative Programme and the AT1 Instruments, "as applicable" are offered and fully subscribed within a period not exceeding five years from the date of the Extraordinary General Meeting approval of the shareholders of the Bank.

Second: Annual Ordinary General Meeting of the Shareholders of bank muscat held on Tuesday, 26^th March, 2024:

1.         Considered and approved the Report of the Board of Directors for the financial year ended 31^st December, 2023.

2.         Considered and approved the Report on Corporate Governance for the financial year ended 31^st December, 2023.

3.         Considered the Auditor's Report and approved the Balance Sheet and Profit and Loss Accounts for the financial year ended 31^st December, 2023. 

4.         Considered the report of the Shari'a Supervisory Board of Meethaq, the Islamic Banking window, for the financial year ended 31^st December, 2023.

5.         Considered and approved the recommendation to distribute cash dividend of 15.5 Baiza for each share for the financial year ended 31^st December, 2023. 

6.         Considered and ratified the sitting fees for the Board of Directors and its committees' meetings for the financial year ended 31^st December, 2023 and fixing sitting fees for the current financial year.

7.         Considered and approved the Board of Directors' remuneration of RO. 300 K for the financial year ended 31^st December, 2023. 

8.         Considered and approved the Related Party Transactions that will be concluded during the financial year ending 31^st December, 2024.

9.         Approved the board assessment report for financial year ended 31^st December 2023 by independent party.

10.       Approved the appointment of KPMG as the statutory auditors for the Bank and the external independent Sharia auditors for Meethaq, the Islamic banking window of the Bank, for the financial year ending 31^st December, 2024 and fixed their fees, subject to the applicable regulatory approvals.

11.       Elected Mr. Saud bin Nasser bin Rashid Al Shukaili as a director to fill the vacant seat in the Board of Directors until the next Board term election.

Secretary to the AGM

 

END