Dubai Lenders Group's Agm Endorses Items On Its Agenda

Dubai Lenders Group’s Agm Endorses Items On Its Agenda

Dubai Lenders Group announces the results of the Ordinary General Assembly meeting held on 22/02/2021 and the following resolutions were approved:

1. Approved the Board of Directors’ report on the Company’s activities and its financial position during the year ended on 31 December 2020 and the Company’s business plan for 2021.

2. Approved the report of the External Auditor on the Company’s budget, financial position and final accounts submitted by the Board of Directors.

3. Approved the company’s budget and statement of profits and losses for the year ended on 31 December 2020.

4. Approved the Board of Directors’ recommendation to distribute a cash dividend of 6% of the share nominal value (i.e. QR 0.06 per share).

5. Approved the Corporate Governance Report of 2020.

6. Approved the basis and policy for granting remuneration for the Board of Members, in addition to incentives and rewards of Senior Executive Management and the Company’s employees in accordance with the principles of the Governance Code.

7. Absolved the members of the Board of Directors from any liability for the financial year ended on 31 December 2020 and determine their remuneration.

8. Appointed Rodl & Partner as the External Auditor for the financial year 2021 and determine their fees.

9. With regard to procedures for ceasing and preventing share ownership transactions in violation of the provisions of the law and the Articles of Association, the General Assembly decided to suspend the dividends of companies with unknown funding until QFMA issues its recommendation regarding the violating shares. Moreover, the General Assembly has authorized the Board of Directors to take the following actions:

• Addressing Qatar Financial Markets Authority to enforce Decision No. (1) of 2016 and the penalties for violating the aforementioned decision.

• Addressing the National Anti-Money Laundering and Terrorism Financing Committee regarding the foreign companies that own some shares and have not submitted any documents indicating their true beneficiary, which is considered as a violation of Article (46) of the Anti-Money Laundering and Terrorism Financing Law, and Article (15) of the Executive Regulations.

• Take all measures in cooperation with the supervisory authorities and provide all available data on the financial institutions that act as intermediaries for these investments which are in violation of the provisions of the Anti-Money Laundering and Terrorism Financing Law.