Al Ansari Financial Services PJSC: A Closer Look at the Company's Future
Al Ansari Financial Services PJSC, a leading financial services group in the UAE, recently released guidelines for shareholder representation at the general assembly. This analysis will delve into the implications of these guidelines and provide a perspective on the company's future.
Summary
The company has issued guidelines for shareholder representation at the general assembly in line with Article 40 of the Corporate Governance Manual. The guidelines stipulate that shareholders can delegate non-board members, non-staff, or non-securities brokerage company employees to represent them, with a cap on representation at 5% of the company's issued capital. This move might impact the company's governance structure and influence its future operations.
Source
Summary
The document is a special proxy given by a shareholder of Al Ansari Financial Services PJSC to a representative. The representative is authorized to vote on the shareholder's behalf at the General Assembly meeting scheduled for Wednesday, 1 November 2023, or any adjourned meeting. The document is dated and signed by the shareholder.
Summary
The text refers to the guidelines for shareholder representation at the general assembly, as per Article 40 of the Corporate Governance Manual. Shareholders who have the right to attend the general assembly can delegate someone who is not a board member, company staff, or a securities brokerage company employee to represent them. The delegate must have written authorization, stating they have the right to attend the assembly and vote. A delegate representing multiple shareholders cannot hold more than 5% of the company's issued capital. Those lacking legal capacity must be represented by their legal representatives. The shareholder's signature on the power of attorney should be approved by a Notary Public, a commercial chamber of the economic department in the state, a bank or company licensed in the state, or any other entity licensed to perform attestation work.
Summary
The Board of Directors of Al Ansari Financial Services PJSC has invited its shareholders to a general assembly meeting to be held both physically and electronically on November 1, 2023. The meeting will take place at Office No. 804, Al Ansari Business Center, Al Barsha 1, Dubai, United Arab Emirates. The agenda includes a special resolution to amend Article 14 of the company's Articles of Association. The proposed amendment pertains to the payment of dividends to shareholders. The new version allows the company to distribute quarterly or semi-annual dividends from its operating profits or accumulated profits, with the Board of Directors authorized to adopt and implement decisions related to dividend distribution as per the policy approved by the General Assembly.
