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 HSBC BANK Oman S.A.O.G. holds its Annual Ordinary General Meeting

The Annual General Meeting of HSBC Bank Oman S.A.O.G. (‘Bank’) was held at 5:00 pm on Thursday 29 March 2018 in the Jabrin Ballroom at The InterContinental Hotel, Muscat, Sultanate of Oman. The Shareholders of the Bank approved:

 1. The Board of Directors’ Report for the financial year ended 31 December 2017.

2. The Corporate Governance Report for the financial year ended 31 December 2017.

3. The report of the evaluation of the Board of Directors’ performance for the financial year ended 31 December 2017.

4. The Auditors’ Report and the Financial Statements for the year ended 31 December 2017.

5. The proposal to distribute a cash dividend of 5.7 baiza per share for the year ended 31 December 2017 to the Shareholders as at the AGM date.

6. The Board and Committees’ sitting fees paid during the preceding year and to specify the Board and Committees’ sitting fees for the coming year.

7. The transactions carried out by the Bank with Related Parties during the financial year ended 31 December 2017.

8. The appointment of PricewaterhouseCoopers LLC as the statutory auditors for the financial year ending 31 December 2018 and their remuneration.

9. The election of the new Board of Directors for the Bank with a new 3 year term starting on the date of this Annual Ordinary General Meeting until the date of the Bank’s Annual Ordinary General Meeting in 2021, as follows:

- Sir Sherard Cowper-Coles

- Brig. (Retd.) Waleed Omar Al Zawawi

- Dr. Juma Ali Juma Al Juma

- Aimen Ahmed Sultan Al Hosni

- Sayed Abdulfattah Sayed Mansoor Sharaf

- Christine Jane Lynch

- Paul Joseph Lawrence


In a Board meeting held after the Annual Ordinary General Meeting, the Board of Directors appointed Sir Sherard Cowper-Coles as the Chairman of the Board of Directors and Brig. (Retd.) Waleed Omar Al Zawawi as the Deputy Chairman of the Board of Directors.

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