Aluminum Bahrain Company has held B.M. (Alba), the largest fuse of aluminum with a single location in the world, the social public assembly of the fifteenth annual general assembly and the extraordinary general assembly on Wednesday, March 12, 2025 in the Manama Hall at the Forsiezons Hotel, Bahrain Bay, led by the Chairman of the Board, Khaled Al -Rumaihi, and the presence of members of the Board of Directors, Executive Administration, shareholders, and representatives of the supervisory authorities.
The regular general assembly meeting witnessed the approval of the appointment of Mrs. Rasha Spirk as a member of an expert board of directors, in addition to ratifying the appointment of Mr. Khaled Al -Ruwais and Mr. Ahmed Al -Sheikh as a member of the Board of Directors. The minutes of the regular general assembly meeting, which was held on March 07, 2024, were reviewed and approved. Moreover, the Board of Directors report was discussed on the work/activities of the company for the fiscal year ending and approved by December 31.
The meeting also witnessed the approval of the distribution of cash dividends of 45.17 fils per share or 45.17% of the paid -up capital (including the interim profit distributions of 18.59 fils per share that was distributed to the shareholders on September 11, 2024), where the total reached 63,948,538 Bahraini dinars for the year on December 31, 2024, in addition to transferring an amount 120,593,462 Bahraini dinars to the advanced profits.
During the meeting, the company’s governance report was discussed for the year 2024, and it was approved to reset the Ernst and Young company as external auditors for the company’s accounts for the fiscal year 2025.
On this occasion, the Chairman of the Board of Directors of Alba Company, Khaled Al -Rumaihi, commented: “Despite the challenges of the market, we achieved record performance in 2024, as this was clearly reflected through the remarkable increase in our profits and our pioneering performance in the field of safety at the level of industry. This success is a direct fruit of the collective leadership of the members of the Board of Directors as well as the dedication of the executive management team, as we together managed to overcome challenges and achieve distinguished results.
And I am confident of our ability to continue achieving the exceptional value in the long term, and the consolidation of our leadership in the industry, through our clear vision, our strong strategy, and the dedication of our sincere national cadres. “
The extraordinary general assembly meeting witnessed the review of the minutes of the previous meeting held on March 07, 2024 and approved it, as well as approval to amend and reformulate the establishment of the company’s articles of association (Article 7) by deleting the SABIC Industrial Investment Company (Commercial Register No. 10101812081) and adding the Saudi Arabian Mining Company (Maaden) (Commercial Register No. 1010164391) and that is subject to the approval of the supervisory authorities.
