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 HSBC BANK Oman S.A.O.G. held its Extraordinary General Meeting and Annual Ordinary General Meeting

The Extraordinary General Meeting (‘EGM’) and the Annual General Meeting (‘AGM’) of HSBC Bank Oman S.A.O.G. (‘Bank’) was held on Thursday 30 March 2017 in the Jabrin Ballroom at the InterContinental Muscat Hotel, Muscat, Sultanate of Oman. The Shareholders of the Bank approved:

First: the EGM:

1.         The proposal to amend some Articles in the Articles of Association of the Bank.

Second: the AGM:

1.         The Board of Directors’ Report for the financial year ended 31 December 2016.

 2.         The Corporate Governance Report for the financial year ended 31 December 2016.

 3.         The Auditors’ Report and the Financial Statements for the year ended 31 December 2016.

 4.         The proposal to distribute a cash dividend to the Shareholders at the rate of 5% of the share capital (i.e., 5 baiza per share) for the year ended 31 December 2016.

 5.         The Board and Committees’ sitting fees paid during the preceding year and the Board and Committees’ sitting fees for the coming year.

 6.         The transactions carried out by the Bank with related parties during the financial year ended 31 December 2016.

 7.         The appointment of PricewaterhouseCoopers LLC as the statutory auditors for the financial year ending 31 December 2017 and their remuneration.

 8.         The criteria to evaluate the Board of Directors.

 9.         The appointment of KPMG as the Independent Firm to evaluate the performance of the Board of Directors for the financial year ending 31 December 2017 and their remuneration.

 10.       The appointment of Sir Sherard Cowper-Coles as a Director on the Board.

 

In a Board meeting held after the EGM & AGM, the Board of Directors appointed Sir Sherard Cowper-Coles as the Chairman of the Board of Directors.

 

Important Notice:      Dividend payments will be managed on behalf of the Bank by Muscat Clearing & Depository Co. SAOC (‘MCDC’). Please note that each Shareholder must contact MCDC for any inquiry in respect of any such dividend amount due to him/her.