The Board of Directors of Bank Al-Sharq S.A.S. is pleased to invite its shareholders to attend the meeting of the Extraordinary General Assembly which is meeting in lieu of the Ordinary General Assembly, scheduled on Monday, April 30th, 2018 at 2 P.M. at the Four Seasons Hotel in Damascus to discuss and resolve the items detailed hereunder:
Consider the report of the Board of Directors on the Bank’ activities for the fiscal year ending December 31st, 2017 and its projected plan for 2018.
- Consider the External Auditor’s report on the Bank’s activities and financial statements for the fiscal year ending December 31st, 2018.
- Discuss and approve the reports of the Board of Directors and the External Auditors as well as the Bank’s financial statements for the fiscal year ending 31 December 2018.
- Approve the constitution of Bank reserves as per applicable rules and regulations.
- Consider and approve the proposal of the Board of Directors regarding profits realized in 2017.
- Consider the increase of the Bank capital by capitalizing the retained profits and part of the reserves, and distribute the resulting free shares to the shareholders, as well as amend art.6 of the Bank Bylaws accordingly; all provided the approval of regulatory authorities id duly obtained.
- Discharge the members of Board of Directors and the Bank representatives from their liabilities for the fiscal year ending December 31st, 2017.
- Approve the Board of Directors benefits for the fiscal year ending December 31st, 2017.
- Consider and approve the Board of Directors’ bonus payments for the fiscal year ending December 31st, 2017.
- Elect new members of the Board of Directors as the term of the current Board is reaching its maturity.
- Discuss the Board of Directors’ proposed benefits for the fiscal year ending December 31st, 2018.
- Appoint the Bank’s External Auditors for the fiscal year ending December 31st, 2018 and determine their remuneration.
- Authorize members of the Board of Directors to undertake similar activities and to engage in contractual agreements with the Bank in line with article 152 of decree no. 29 / 2011.
Registration to the Extraordinary General Assembly meeting is received Sunday through Friday as of April 15, 2018 to April 29, 2018 at Bank Al-Sharq headquarters between 9:00 AM and 4:00 PM. Registration to the meeting is also possible prior to the EGA meeting on Monday April 30, 2018 at the Four Seasons hotel between 1:00 PM and 2:00 PM.
The Bank’s Annual report, the External Auditor’s report and the financial statements for the fiscal year ending December 31st, 2017 have been made available on the Bank website as well as on the website of the Syrian Commission on Financial Markets and Securities www.scfms.sy.
For any additional information, please contact the office of the Secretariat General on +(963) (11) 66803000.