Riyadh – Mubasher: Alawwal Bank’s board invited shareholders to attend the extraordinary general meeting (EGM) on 29 March.
The EGM will vote on the board’s resolution to not to distribute dividends for fiscal year 2016, in order to support the bank's financial position and future plans.
The meeting will also discuss the balance sheet and the profit and loss account for the year which ended on 31 December, according to a bourse filing on Wednesday.
Voting on amending Article 32 of the bank's bylaws, concerning shareholders' assemblies, will be a part of the EGM as well.
Moreover, the board’s report for the year which ended on 31 December 2016 will also be considered in the meeting.
