Doha Bank Chairman Sheikh Fahad Bin Mohammad Bin Jabor Al Thani on Sunday announced that the Ordinary General Assembly of the shareholders in its meeting held on March 17 has unanimously endorsed the board of directors’ corporate governance report for the year 2023 and has also endorsed the balance sheet and the profit and loss account for 2023.

It also approved the board of directors’ recommendation to distribute cash dividends to shareholders for QR0.075 per share. During the meeting, the chairman and board members were discharged from the responsibility for the year 2023 and approved the payment of the BOD’s stipulated remuneration.

He also said that the AGM has approved the board of directors’ remuneration policy and performance remuneration policy.

He also stated that the AGM has approved the extension of the period for issuance of notes under the bank’s EMTN programme with varying amounts which would, in the aggregate, not exceed, at any time, the EMTN programme limit of $3 billion.

No single deal would exceed $1 billion and in various major currencies including (but not limited to) US dollar, Australian dollar, Yen, Swiss Francs, Sterling Pound, Euro and Qatari Riyal, and any other currency agreed between the relevant issuer, the guarantor (in the case of Guaranteed Notes) and the relevant dealer.

It would be in varying maturities not exceeding 30 years and be issued either by an SPV guaranteed by Doha Bank or through Doha Bank directly.

Total outstanding notes issued or guaranteed by Doha Bank under the EMTN programme should not exceed at any time the bank’s capital and reserves.

The shareholders authorised the board of directors of Doha Bank and those authorised by the board to take all necessary actions to execute these issuances within the EMTN programme after obtaining the approval of Qatar Central Bank and any other competent authorities.

Such authorised signatory is also authorised to handle all aspects of the application for listing of any Notes issued under the EMTN programme on any suitable listing exchange, and which authority shall include negotiating, agreeing, executing, and delivering any required application forms and associated documents like listing documents.

Delegation validity will be for three years starting from the date of convention of the General Assembly meeting of Doha Bank in March 2024 and further authorizing the Board to renew the same terms and conditions as above for a further three years.

In addition, he also stated that the AGM has appointed ‘PwC’ to review and audit the bank’s accounts for the financial year 2024.

Qatar tribune