UGH holds its Annual General Ordinary shareholders meeting

The Company's shareholders approved all agenda items including the financial statements for the year ended 31 December 2019

  

Bahrain: United Gulf Holding Company (UGH) today held its Ordinary General Assembly Meeting. The Company’s shareholders approved all agenda items including the financial statements for the year ended 31 December 2019.

Mr. Mohammad Haroon, the Independent Board Director, chaired the Ordinary General Assembly Meeting, which was held at UGB Tower, Diplomatic Area, Bahrain with 98.2 per cent of shareholders represented.

Last month, UGH announced a net profit attributable to shareholders of parent of US$ 9.7 million, a loss of 1.11 US cents per share for the year ended 31 December 2019. At the meetings, shareholders approved all appropriations as presented.

As a result of the election process, the shareholders elected the following to act as members of the Board of Directors serving for the three-year period 2020 – 2023 term:

1.     Mr. Masaud J. Hayat, Chairman

2.     Mr. Faisal Al Ayyar, Vice Chairman

3.     Mr. Sadoun Ali, Executive Director

4.     Mr. Tariq Abdul Salam, Executive Director

5.     Mr. Mubarak Al Maskati, Independent Director

6.     Mr. Bader Al Awadhi, Independent Director

7.     Mr. Mohammed Haroon, Independent Director

8.     Mr. Mazen Hawa, Executive Director

On behalf of UGH’s Board, Mr. Mohammad Haroon paid tribute to the Government of the Kingdom of Bahrain for longstanding support and to the regulatory and supervisory authorities in the jurisdictions where UGH operates for their guidance and constructive cooperation.

-Ends-

About UGH:

UGH is a subsidiary of KIPCO Group and through its underlying investments conducts merchant banking activities. Group’s proprietary investments include assets in investment banking, commercial banking, real estate, private equity, and quoted securities. As of 31 December 2019, assets under management held through its subsidiary UGB stood at US$ 13.6 billion (31 December 2018: US$ 12.6 billion).

As of 31st December 2019, UGH’s directly and indirectly held core subsidiaries and associates include: United Gulf Bank B.S.C (c), Burgan Bank, KAMCO Investment Company (KAMCO Invest), FIMBank p.l.c, North Africa Holding Company, United Gulf Financial Services – North Africa, United Capital Transport Company and United Real Estate Company.

UGH’s subsidiaries, UGB and KAMCO Invest have a proven track record of successfully completing more than 60 investment banking transactions for its clients since 2001 with an aggregate value of over US$ 10 billion including corporate finance, advisory, new issue placement and underwriting, corporate restructuring, bond issuance and merger and acquisition.

For further information:
United Gulf Holding Company
Wadia Majeed
T: +97317520150
E: wadia@ugbbah.com 

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases