Commercial Bank of Dubai P.S.C.

On March 6, 2024, a Board of Directors meeting of the Commercial Bank of Dubai P.S.C. was held. During the meeting, H.E Ahmad Abdulkarim Mohammad Julfar was elected as the Chairman of the Board of Directors, and H.E Ahmad Abdulla Juma Binbyat was elected as the Deputy Chairman. The decision to nominate the Chairmen and Members of the Board of Directors Committees was postponed.

The letter is from the Commercial Bank of Dubai P.S.C. to Mr. Hamed Ahmad Ali, the CEO of Dubai Financial Market. It reports on the Annual General Meeting of the bank held on 6th March 2024. Key resolutions from the meeting include the approval of the directors' report, the auditors' report, the Internal Sharia Supervision Committee's report, and the Consolidated Financial Statements for the year ended 31st December 2023. Additionally, a cash dividend distribution equivalent to 50% of the net profit for 2023, totaling AED 1,324,828,187, was approved.

A Board of Directors meeting for the Commercial Bank of Dubai P.S.C. is scheduled for Wednesday, 6th March 2024 at 6:30 p.m. Items on the agenda include the election of the Chairman and Deputy Chairman of the Board of Directors and the appointment of the Board of Directors Committee's Chairmen and Members. The outcomes of the meeting will be shared immediately afterwards.

On 22nd February 2024, the final list of candidates for the Commercial Bank of Dubai P.S.C. Board membership was announced. The list was approved by the UAE Central Bank and the Board Nomination and Remuneration and Governance Committee. The list includes 19 candidates: Abdulla Mohamed Abdulrahman Al Karam, Abdulla Saif Obaid Al Hathboor, Abdulwahed Mohamed Sharif Asad Al Fahim, Ahmad Abdulla Juma Binbyat, Ahmad Abdulkarim Mohammad Julfar, Ali Fardan Ali Al Fardan, Buti Saeed Mohamed Saeed Al Ghandi, Hamad Omar Abdulla Hamad Al Futtaim, Hadi Mohammad Taher Badri, Humaid Mohammad Obaid Al Qutami, Khalid Abdulwahid Hassan Al Rostamani, Khalid Salim Mousa Mubarak Al Halyan, Shaikha Lubna Bint Khalid Bin Sultan Al Qasimi, Sheikh Maktoum Bin Hasher Bin Maktoum Al Maktoum, Maryam Buti Ali Al Dhafri Almheiri, Mira Omar Abdulla Hamad Al Futtaim, Moza Omar Abdulla Hamad Al Futtaim, Saod Mohamed Ibrahim Hamad Obaidalla, and Sulaiman Hamid Hamad Salem Al Mazroui.

The text is a clarification disclosure regarding the approval of agencies according to Clauses 1 & 2 of Article 40 of the Corporate Governance Manual. It informs shareholders that they have the right to delegate someone other than Board members, staff, or securities brokerage company employees to attend the general assembly and vote on their behalf. The delegated person cannot represent more than 5% of the company's issued capital. Incompetent persons must be represented by their legal representatives. The shareholder's signature on the power of attorney should be approved by entities such as a Notary Public, commercial chamber of economic department in the state, a bank or company licensed in the state, or any other entity licensed to perform attestation works. The proxy form must include the shareholder's name and contact number(s), and the brokerage firm or the authority that approved the proxy.

The Commercial Bank of Dubai PSC has released its group consolidated financial statements for the year ending 31 December 2023. These audited statements are pending approval from the Central Bank of the UAE and will be presented to shareholders for adoption at the Annual General Meeting.

The Board of Directors of the Commercial Bank of Dubai P.S.C. conducted a meeting on 31st January 2024. In the meeting, they approved the minutes of the previous meetings held on 13th December 2023 and 5th January 2024. They also approved the bank's financial statements for the year ended 31st December 2023 along with related resolutions. The board approved the Annual General Meeting Agenda, and the date and venue of the meeting, subject to approval from different authorities.

The Board of Directors of a company has announced the reopening of nominations for board membership from 26 January 2024 to 4 February 2024. This decision, recommended by the Remuneration, Nomination, and Governance Committee, complies with UAE governance requirements and aims to serve the company's interest. The board will comprise 11 members, including at least one-third independent members, all non-executive, and at least one female. Candidates must meet specific requirements as per UAE regulations and the company's Articles of Association. After the nomination period, the candidate list will be published on the company's website and sent to the Securities and Commodities Authority. Applications can be submitted via courier or email.