Ajman Bank PJSC: A Clarification Disclosure Unveiled
This article provides an in-depth analysis of a recent clarification disclosure by Ajman Bank PJSC, a leading Islamic banking institution in the UAE.
Summary
Ajman Bank PJSC has recently released a clarification disclosure regarding the approval of agencies. This article delves into the details of the disclosure, the bank's performance and presents a neutral view of the future of the company.
Ajman Bank PJSC, a leading Islamic banking institution in the UAE, has recently issued a clarification disclosure regarding the approval of agencies. The disclosure is based on Clauses 1 and 2 of Article 40 of the Corporate Governance Manual and provides important information to shareholders.
The disclosure states that shareholders with the right to attend the general assembly may delegate someone other than board members, company staff, or securities brokerage company employees to attend on their behalf. However, the delegate cannot hold more than 5% of the company's issued capital. The shareholder's signature on the power of attorney must be approved by specific entities such as a notary public, commercial chamber of economic department, licensed bank or company in the state, or any other licensed entity. The proxy form must include the shareholder's name and contact information, and that of the brokerage firm that approved the proxy. The shareholder has the power to issue the proxy within the limits and powers they deem appropriate.
Looking at the bank's performance, Ajman Bank PJSC has a market cap of 5,120,180,000. The 3-month yield stands at -0.05%, while the 1-month yield is at 0.07%. The bank's activities are conducted in accordance with the Islamic Sharia’a principles and within the provisions of its Memorandum and Articles of Association.
Given the bank's performance and the recent clarification disclosure, the future of Ajman Bank PJSC seems to be neutral. The bank has a solid foundation and continues to operate within its established framework. However, as with any financial institution, it is subject to market risks and fluctuations.
Investors are advised to tread with caution and make informed decisions based on their financial goals and risk tolerance. It is also recommended to keep an eye on the bank's future announcements and performance metrics.
Source
Summary
The Board of Directors of Ajman Bank is inviting shareholders to attend the Annual General Meeting on 17th April 2024, at 10:00 AM. The meeting will be held at the Bank's HQ in Ajman, and shareholders can attend in person or participate remotely. The agenda includes reviewing and approving the Board's report, auditor's report, internal Sharia board's report, balance sheet, and profit and loss account for the fiscal year ending on 31st December 2023. Other items include the proposal not to distribute dividends, discharging Board members and external auditors, appointing new members of the internal Sharia board and external auditors, and electing new Board members. Shareholders can register their attendance electronically and are allowed to delegate a representative to attend. The meeting will be postponed to 24th April 2024 if a quorum of 50% is not reached.
Summary
The text is a clarification disclosure regarding the approval of agencies, based on Clauses 1 and 2 of Article 40 of the Corporate Governance Manual. It states that shareholders with the right to attend the general assembly may delegate someone other than board members, company staff, or securities brokerage company employees to attend on their behalf. The delegate cannot hold more than 5% of the company's issued capital. The shareholder's signature on the power of attorney must be approved by specific entities such as a notary public, commercial chamber of economic department, licensed bank or company in the state, or any other licensed entity. The proxy form must include the shareholder's name and contact information, and that of the brokerage firm that approved the proxy. The shareholder has the power to issue the proxy within the limits and powers they deem appropriate. For further inquiries, they provide a contact number and email address.
