SICO Concludes Annual General Meeting and Extraordinary General Meeting by Circulation; Approves 10% Cash Dividend

SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), announced today that it concluded on 24 March 2020 its Annual General Meeting (AGM) and an Extraordinary General Meeting (EGM) where 94.80% of the shareholders approved the items in the AGM and EGM agendas including the Board of Directors’ proposed distribution of BD 3.899 million in cash dividends for the financial year ended 31 December 2019 (10% of the nominal share value), representing 10 Bahraini fils per share. Shareholders also approved the transfer of BD 603 thousand to the statutory reserve and the remaining sum of BD 1.532 million to the retained earnings account.

SICO, with less than ten shareholders, elected to conclude the meeting via agenda circulation, with shareholders casting their votes on each agenda item, in order to fulfill its ethical responsibility to its stakeholders, by adopting recommendations issued by the Ministry of Health as well as supporting the Kingdom of Bahrain’s efforts to contain the spread of COVID-19.

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