AB U DHABI COMMERCIAL BANK PJSC
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Results of AGM Resolutions passed at Annual General Assembly
11 March 2024
Result of AGM
Resolutions passed at Annual General Assembly 7 March 2024
Abu Dhabi Commercial Bank PJSC (ADCB) announces the result of voting on the resolutions at its 40th Annual General Assembly held on 7 March 2024, as set out in the invitation of the AGM.
A poll was held on each proposed agenda item and all resolutions were passed. In addition, two items were passed as special resolutions - First: Amendments to the Articles of Association; Second: Renewal of Debt Issuance Programs.
Votes | Total votes | % of ISC | ||||||
Agenda item | Votes agree | % | disagree | % | Votes abstain | % | voted | |
1: To hear and approve the | 5,429,310,745 | 99.4688% | 63,985 | 0.0012% | 28,928,237 | 0.5300% | 5,458,302,967 | 74.57% |
Board of Directors' report on the | ||||||||
Bank's activities and financial | ||||||||
statements for the year ended | ||||||||
31/12/2023 | ||||||||
2: To hear and approve the | 5,429,362,329 | 99.4698% | 0 | 0.0000% | 28,940,638 | 0.5302% | 5,458,302,967 | 74.57% |
report of the External Auditors | ||||||||
of the Bank for the year ended | ||||||||
31/12/2023 | ||||||||
3: To hear and approve the | 5,429,362,329 | 99.4698% | 0 | 0.0000% | 28,940,638 | 0.5302% | 5,458,302,967 | 74.57% |
Internal Sharia Supervisory | ||||||||
Committee report in respect of | ||||||||
the Bank's Islamic window for | ||||||||
the year ended 31/12/2023 | ||||||||
4: To re-appoint the members of | 5,388,638,672 | 98.7237% | 17,951,767 | 0.3289% | 51,712,528 | 0.9474% | 5,458,302,967 | 74.57% |
the Internal Sharia Supervisory | ||||||||
Committee for the Bank's | ||||||||
Islamic window for a period of | ||||||||
three years | ||||||||
5: To discuss and approve the | 5,429,303,218 | 99.4687% | 71,512 | 0.0013% | 28,928,237 | 0.5300% | 5,458,302,967 | 74.57% |
audited balance sheet and the | ||||||||
profit and loss account of the | ||||||||
Bank for the year ended | ||||||||
31/12/2023 | ||||||||
6: To consider and approve the | 5,450,269,305 | 99.8528% | 0 | 0.0000% | 8,033,662 | 0.1472% | 5,458,302,967 | 74.57% |
Board of Director's proposal to | ||||||||
distribute cash dividends of 0.56 | ||||||||
AED per share to shareholders | ||||||||
for the year ending 31st | ||||||||
December 2023 amounting to | ||||||||
AED 4,099,170,325.60 | ||||||||
7: To determine and approve | 5,428,251,822 | 99.4494% | 12,758,341 | 0.2337% | 17,292,804 | 0.3168% | 5,458,302,967 | 74.57% |
the Board of Directors' | ||||||||
remuneration, including Board | ||||||||
Committees' sitting fees, for the | ||||||||
year 2023 | ||||||||
8: To absolve the members of | 5,413,048,026 | 99.1709% | 15,178,106 | 0.2781% | 30,076,835 | 0.5510% | 5,458,302,967 | 74.57% |
the Board of Directors of the | ||||||||
Bank from liability for their work | ||||||||
during the year ended | ||||||||
31/12/2023 or to dismiss them | ||||||||
and pursue them as the case | ||||||||
may be | ||||||||
9: To absolve the External | 5,412,964,607 | 99.1694% | 15,261,525 | 0.2796% | 30,076,835 | 0.5510% | 5,458,302,967 | 74.57% |
Auditors of the Bank from | ||||||||
liability for their work during the | ||||||||
year ended 31/12/2023 or to | ||||||||
dismiss them and pursue them | ||||||||
as the case may be | ||||||||
Resolutions Passed at Annual General Meeting - March 2024 | 2
10: To appoint External Auditors | 5,423,254,866 | 99.3579% | 17,755,297 | 0.3253% | 17,292,804 | 0.3168% | 5,458,302,967 | 74.57% |
for the year 2024 and to | ||||||||
determine their fees for the | ||||||||
same year | ||||||||
Special Resolution 1: | 5,440,979,652 | 99.6826% | 30,511 | 0.0006% | 17,292,804 | 0.3168% | 5,458,302,967 | 74.57% |
Amendments to the Articles | ||||||||
of Association | ||||||||
Special Resolution 1: | 5,440,997,762 | 99.6830% | 0 | 0.0000% | 17,305,205 | 0.3170% | 5,458,302,967 | 74.57% |
Renewal of Debt Issuance | ||||||||
Programs | ||||||||
As at the date of the AGM, the number of issued ordinary shares of Abu Dhabi Commercial Bank was 7.32 billion, which was the total number of shares entitling shareholders to vote for or against agenda items.
Further information on ADCB can be found at adcb.com/ir or by contacting:
Investor Relations | Corporate Communications | Capital Markets | ||
Harsh Vardhan | Majdi Abd El Muhdi | |||
Email: ir@adcb.com | Email: majdi.a@adcb.com | Email: capitalmarketsteam@adcb.com |
Resolutions Passed at Annual General Meeting - March 2024 | 3
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Abu Dhabi Commercial Bank PJSC published this content on 08 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2024 10:51:02 UTC.