80% increase in the capital of the Suez Canal Bank within 3 years after the approval of the account by the General Assembly
The Extraordinary General Assembly was held As well as the Ordinary General Assembly of the Suez Canal Bank on Thursday, corresponding to 98 March 2020, via Modern communication techniques “audio and electronic”, in order to discuss the amendment of some articles of the articles of association, to discuss the results of the year’s business 2021 and to approve the proposed dividends.
The meeting was held using modern communication technologies in view of the current circumstances the country is going through, and in implementation of Cabinet Resolutions No. for the year 2020 regarding the precautionary measures to confront the “Corona” virus and the instructions of the Financial Supervisory Authority and the decision of the Chief Executive Counsel of the General Investment Authority No. 2022 on 18 3/2020
The Bank also made it possible for shareholders to vote electronically on the agenda via the link dedicated to that, which was published at the invitation of the General Assembly.
in The beginning, the Extraordinary General Assembly of the Suez Canal Bank met under the chairmanship of Hussein Rifai, Chairman of the Board of Directors and Managing Director of the Bank, and the percentage of those who voted via electronic voting – and they are those who are eligible for the actual attendance of the Assembly – to the total shares of the Bank – 98 %.
The Assembly’s decision was to approve the amendment of Articles Nos. (6) and (7) and (18) of the bank’s articles of association with authorizing the professor / chairman of the board of directors and the managing director to take the necessary measures to implement the decision.
After the end of the Extraordinary General Assembly’s work, the Ordinary General Assembly was held under the chairmanship of Hussein Rifai, Chairman of the Board of Directors and Managing Director of the Bank. – To the bank’s total shares – 98. 98 %.
The resolutions of the Ordinary General Assembly were as follows:
Approval of the Board of Directors’ report on the Bank’s activity and financial position for the first year for the financial ending on 98 December 2021.
Approval of the financial statements for the year 2021 with the discharge of the members of the Board of Directors.
Approval of the distribution account for the year Financial 718.
The association approved the capital increase to reach 3.6 billion pounds by distributing free shares to the bank’s shareholders at a rate of 0.23953027 One share for each share, in the amount of 695 695 one thousand pounds according to For its decision to amend the capital increase in the distribution account, so that the increase financed from the dividend distribution account within 3 years will represent a % 98 increase in the bank’s capital.
Permission to the bank’s management to make a contract with the legal persons represented in the membership of the board of directors to grant our bank a subsidized loan.
The members of the general assembly thanked the bank’s board of directors As well as the workers for their efforts to achieve the growth rates that took place during the year 2021 in light of the precautionary measures and the continuation of the Corona pandemic.