The GFH Financial Group announced yesterday a social contract of the ordinary and unusual general assembly for the fiscal year ending December 31, 2024, in the GFH House building in Bahrain Financial Port.
During the meeting, the shareholders agreed to a set of basic decisions aimed at strengthening the group’s strategic position in the financial sector, as the regular general assembly meeting resulted in the support of the shareholders for the recommendations of the Board of Directors, which included allocating the distribution of cash profits of 6.2% of the nominal value of regular shares, with the exception of treasury shares, equivalent to $ 0.0164 per share.
The shareholders also approved the minutes of the previous meeting held on October 9, 2024, in addition to the adoption of the council report that highlights the activities of the group, the report of the external auditor, and the unified financial data for the year ending December 31, 2024.
Additional approvals also included the governance report, allocating $ 2.4 million as a reward for the members of the Board of Directors. In addition, the shareholders agreed to grant permission to the group to report up to 10% of the total issued shares, according to the approval of the Central Bank of Bahrain.
After that, the extraordinary general assembly meeting in which important decisions were approved, including the issuance of financial tools of the first category and/or sukuk (additional capital of the first category) with a value of up to 200 million dinars. These measures aim to enhance the group’s financial position and support long -term strategic goals.
“We continue to focus on our strategic goals with our achievement of good momentum from a year that witnessed a strong performance, with the aim of consolidating our competitive advantage in the financial scene. The successful approval of our capital enhancement initiatives, including the distribution of large profits, reflects our commitment to create the value of our shareholders. We are ready to achieve radical growth while exploring new opportunities and promoting Our general performance, ensuring the enhancement of the GFH position as a major player in the financial services sector. “
For his part, the CEO of the GFH Financial Group, Hisham Al -Rayes, said: “The results of our recent meetings are witnessing our strong framework and fixed support from our shareholders. On the basis of a clear road map, we are ready to exploit our assets in prosperous projects that drive sustainable growth.”
He added that the approvals to strengthen capital of the first category and issue financial tools of the first category highlight our commitment to strengthening our capital base and ensuring compliance with organizational standards. We continue our optimism about our ability to adapt to market dynamics and generate great returns for all stakeholders concerned in the future.
It is noteworthy that the GFH Financial Group today has $ 22 billion at its management, including a global investment portfolio in the fields of logistics, health care, education and technology in the Middle East and North Africa, Europe, the United States and the United Kingdom.
