GFH Financial Group (GFH) has announced the successful conclusion of its ordinary general meeting (OGM), which was held on Dec. 29 at the group’s Bahrain Financial Harbor headquarters.
The meeting, which was attended by shareholders, GFH’s board, management and employees as well as members of the media, was presided over by the group’s CEO Hisham Alrayes.
The agenda of the OGM saw shareholders approve the minutes of the previous general assembly meeting held on March 28. In addition, the group received approval from shareholders who accepted the recommendation of the board to take the required steps to issue sukuk amounting up to $500 million in one or more issuances, subject to obtaining relevant regulatory approvals.
Furthermore, in line with recent regulatory updates with regards to market making, the group sought and received shareholder approval for the appointment of a market maker and to utilize up to 3 percent of GFH’s total issued shares for market making, for the financial year 2019 and until the upcoming AGM for the year ending Dec. 31 2022, and authorize the board of directors or their delegates to take all the necessary measures.
