The Board of Directors of GFH Financial Group BSC (“Group”) is pleased to invite the esteemed shareholders of the Group to attend the Ordinary General Meeting (“OGM”) to be held on Wednesday, 23rd September 2020, at 11:00 A.M. at Al Areen Palace and SPA to discuss and approve the following meeting agenda items, and if the required legal quorum is not achieved, the second meeting will be held on Wednesday, 30th September 2020, or a third meeting, if required, will be held on Wednesday, 7th October 2020 at the same time and place to consider the following agenda:

Agenda of the Ordinary General Meeting:

  1. To approve the minutes of the previous Annual General Meeting held on 6th April 2020.
  2. To ratify and authorize the agreements with Khaleeji Commercial Bank (the“Bank”) in accordance with Article (189) of the Bahraini Companies Law, and as follows:
    • The Group signed a swap agreement with Khaleeji Commercial Bank for financial and investment assets worth of BD 46.4 million.
    • The Group signed an agreement with Khaleeji Commercial Bank to underwrite the issuance of BD 60mn AT1 Sukuk at a premium of BD 12mn and receiving subscription fee of BD 12.1 million.
  3. To approve netting-off the accumulated losses by transferring an amount of USD 110,273,000 from the statuary reserve, subject to any regulatory approvals.
  4. To ratify the corporate governance report for the financial year ending December 31, 2019 after adding a section related to the remuneration strategy.
  5. To ratify the appointment of Mr. Ali Murad and Mr. Ahmed Al-Ahmadi as appointed members of the Group’s board of directors.
  6. Electing the bank’s Board of Directors for the next three years, consisting of ten seats, subject to the approval of the Central Bank of Bahrain.
  7. To discuss any other matters in accordance with Article 207 of the Commercial Companies Law.