The general assembly of the “GFH” Financial Company, listed on the Dubai, Bahrain and Kuwait Stock Exchanges, approved the cancellation of the listing of the Group’s shares on the Kuwait Stock Exchange and transfer them to the Bahrain Stock Exchange and authorizes the Board of Directors to take the necessary action in this regard.
The company said in a statement today to the Dubai Financial Market that the General Assembly approved during its meeting held yesterday in Bahrain, through live virtual participation, to amend the balance of accumulated losses by transferring an amount of $ 110.27 million from the legal reserve, subject to the approval of the regulatory authorities.
The general assembly approved the restructuring of the Khaleeji Commercial Bank in line with Article (189) of the Bahraini Companies Law.
It also agreed to appoint Ali Murad and Ahmed Al-Ahmadi as concerned members of the group’s board of directors, and to elect the bank’s board of directors for the next three years, consisting of ten seats, subject to the approval of the Central Bank of Bahrain and the elected members, they are: Jassim Al-Siddiqi, Alia Al Falasi, Sheikh Ahmed Al Khalifa, Hisham Al Rayyes, Rashid Al Kaabi, Ghazi Al Hajri, Mustafa Khuraiba, Ahmed Abdul Hamid Al Ahmadi, Ali Murad, and Fawaz Al Tamimi
On his part, Hisham Al Rayes, CEO of GFH Financial, said: “We continue to focus on the effective implementation of our strategy. “.
Al-Rayyes added: “The shareholders’ approval of the agreements that we entered into with our commercial banking subsidiary, Khaleeji Commercial Bank, enhances its financial position and its ability to achieve greater contributions for the group during the coming periods. ”
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