TDT | Manama The Daily Tribune – www.newsofbahrain.com Email: mail@newsobahrain.com GFH Financial Group ("GFH" or "the Group") announced the successful conclusion of its Ordinary General Meeting (OGM), held with the live virtual participation of a 39.14% quorum of sharehold
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Email: mail@newsobahrain.com
GFH Financial Group (“GFH” or “the Group”) announced the successful conclusion of its Ordinary General Meeting (OGM), held with the live virtual participation of a 39.14% quorum of shareholders in addition to members of the Group’s Board, management and employees.
The OGM saw shareholders approve the minutes of the previous OGM held on 24 March 2024 and the Board of Directors’ recommendations to establish a trust certificate issuance programme (the “Sukuk Programme”) with a value of up to USD 500 million through a Special Purpose Vehicle (SPV), subject to obtaining the necessary regulatory or other approvals.
Shareholders also approved the issuance of Sukuk amounting to USD 500 million in one or more tranches through the issuer SPV.
Also approved were the modifications to the terms and conditions of the existing USD 500 million Sukuk due in 2025, originally issued in two tranches in 2020. This includes the offer to early redeem the outstanding certificates.
Shareholders also approved the delegation of powers to the Board of Directors (and their delegates to conduct the necessary procedures to carry out the Sukuk Programme and the Offer.
