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The Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution) has opened nominations for its Board of Directors. The nomination period runs from Tuesday 5 March 2024 until Thursday 14 March 2024. Interested individuals can apply via email, and the application must include a brief biography and the desired membership capacity. Seven board members are to be elected. Nominees must meet the requirements of the Federal Law by Decree No. (32) of 2021, the Corporate Governance Guide, and the Company’s Articles of Association. The company will publish the names of nominees on 22 March 2024, with the election taking place electronically on 27 March 2024.
The Securities and Commodities Authority (SCA) has approved the nomination process for the Board of Directors of ADNOC Distribution and the date and agenda for the company's General Assembly meeting. The approved announcement for the nomination and the General Assembly meeting's invitation and agenda will be published in Alittihad and The National newspapers on 5th March 2023.
The Abu Dhabi Commercial Bank PJSC is set to hold its 40th Annual General Meeting on March 7, 2024. More information can be found on their website.
The International Holding Company PJSC (IHC) has issued a warning to the public about scammers using their company name, employee names, and logo to advertise fraudulent investment opportunities and tenders online. These scammers are asking individuals and entities to provide personal and business information, as well as credit card and bank details, to pay tender fees or invest in the company. IHC emphasizes that they never send requests for personal, business, or financial information via email or any other means, nor do they ask for any payments or investments in this manner. If such a request is received, it should be treated with caution and no sensitive information should be provided.
GFH Financial Group BSC, an Islamic wholesale bank established in 1999 in Bahrain, operates in accordance with Islamic Sharia principles. It transitioned from a closed shareholding company to a public shareholding company in 2004 and is listed on four major stock exchanges in the GCC. The Group manages over $21 billion in assets, has been recognized by Forbes as one of the Middle East's Top 30 Biggest Asset Managers, and was named Bahrain’s Investment Banking Market Leader by Euromoney. In 2022, GFH created Infracorp, issuing a $900 million green sukuk on the London Stock Exchange. In 2023, GFH entered a strategic partnership with FII and the World Economic Forum and expanded its regional portfolio to include logistics and healthcare assets in the GCC. GFH's corporate governance framework is based on guidelines issued by the Ministry of Industry, Commerce, and the Central Bank of Bahrain. The company's corporate governance philosophy emphasizes compliance with corporate governance principles and prioritizes transparency and accountability.
The Board of Directors of the RAPCO Investment PJSC will hold its first meeting of 2024 on March 6, 2024 at 9:30 am. The agenda includes reviewing and approving the minutes of the previous board meeting, reviewing and approving the audited financial statements for the year ended December 31, 2023, reviewing and approving the draft of the nomination invitation, and considering a proposed date for the Annual General Assembly Meeting for the financial year ended December 31, 2023, subject to regulatory approvals.
The Corporate Governance Manual's Article 40, Clauses 1 & 2, provides guidelines for shareholder representation at general assemblies. Shareholders can delegate someone other than company board members, staff, or employees of a securities brokerage company to represent them. The delegate, however, can represent no more than 5% of the company's issued capital. Legally incompetent individuals must be represented by their legal representatives. The shareholder's signature on the power of attorney must be approved by a Notary Public, Commercial chamber of economic department in the state, a licensed bank or company in the state, or any other entity licensed to perform attestation works. The Proxy form should include the shareholder's and the approving brokerage firm's contact details. The shareholder can issue the Proxy within the limits and powers they deem appropriate, as long as the signature is approved by one of the mentioned authorities.