GFH holds ordinary General Meeting
GFH Financial Group (GFH) has announced the conclusion of its Ordinary General Meeting (OGM), which was held on 29 December 2019 at the Group’s Bahrain Financial Harbour headquarters.
The meeting, which was attended by shareholders, GFH’s Board, management and employees as well as members of the media, was presided over the Group’s CEO Hisham Alrayes.
The Group received approval from shareholders who accepted the recommendation of the Board to issue Sukuk amounting of up to US$500 million in one or more issuances.
The Group also received shareholder approval for appointing a market maker and to utilise up to 3 per cent of GFH’s total issued shares for market making, for the financial year 2019 and until the upcoming AGM for the year ending 31st December 2022.
Shareholders approved and authorised the board of directors to utilise 140,000,000 shares, representing 3.8 per cent of total issued shares of GFH, for a strategic share acquisition in financial institutions, subject to Central Bank of Bahrain approval.
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