Dubai Financial Market Hosts Key Shareholder Meetings
Dubai Financial Market PJSC announces upcoming shareholder meetings, highlighting strategic decisions and financial insights.
Summary
DFM PJSC prepares for significant shareholder meetings, focusing on financial outcomes and strategic growth, with a recommendation to hold.
Dubai Financial Market PJSC (DFM) is set to host its Annual Ordinary and Extra Ordinary General Meetings, as announced in a recent press release. These meetings are pivotal, offering insights into the company's financial health and strategic direction for 2025. The meetings are scheduled for March 19, 2025, with provisions for subsequent dates if quorum requirements are not met.
The agenda includes key items such as approving the minutes from the previous meetings, discussing the Board of Directors' and Shari’a Supervisory Board's reports, and examining the external auditors' findings. Shareholders will also deliberate on the consolidated financial statements for the year ending December 31, 2024. A significant point of discussion will be the transactions carried out with related parties, ensuring transparency and compliance with the Commercial Companies Law.
One of the critical agenda items is the appropriation of net profits. The Board recommends transferring BD 5.901 million to statutory reserves and distributing a 14% dividend, comprising 6% cash dividends and 8% bonus shares. This move reflects DFM's robust financial performance and commitment to rewarding its shareholders.
Moreover, the Extra Ordinary General Meeting will address the proposed increase in share capital, resulting from the issuance of bonus shares. This strategic decision aims to enhance liquidity and shareholder value, pending approval from the Central Bank of Bahrain.
Given the company's strong financial footing and strategic initiatives, the outlook for DFM remains optimistic. Investors are advised to hold their positions, as the company is poised for sustained growth and value creation. The upcoming meetings are expected to reinforce investor confidence and set a positive trajectory for the future.
Source
Summary
The Chairman of the Board of Directors of Al Salam Bank B.S.C invites shareholders to the Annual Ordinary and Extra Ordinary General Meetings on 19 March 2025 at the Ritz Carlton Hotel, Bahrain. If a quorum is not met, subsequent meetings are scheduled for 27 March and 9 April 2025. The agenda for the Annual Ordinary General Meeting includes approving previous minutes, discussing reports and financial statements for 2024, approving profit appropriations, and appointing auditors and the Shari’a Supervisory Board. The Extra Ordinary General Meeting will address ratifying previous minutes, approving share capital increase, and amending the bank's Memorandum and Articles of Association. Shareholders registered on the meeting date can attend or appoint a proxy, with forms available on the bank's website. Proxies must be submitted 24 hours before the meeting. For inquiries, contact the Investor Relations Department.
