ALUMINIUM Bahrain (Alba), the world’s largest smelter on one site, held its 15th annual general meeting (AGM) and extraordinary general meeting (EGM) yesterday at Al Manama Ballroom at the Four Seasons Hotel, Bahrain Bay.
The meeting was led by chairman Khalid Al Rumaihi and attended by board members, executive management, Alba shareholders, and representatives from regulatory bodies.
During the AGM meeting, the shareholders approved the appointment of Rasha Sabkar as an expert board member; in addition to ratifying the appointment of Khaled Rowais and Ahmed Al Shaikh as board members. Moreover, minutes of the previous annual general meeting, held on March 7 last year, were reviewed and approved. The meeting also discussed and approved the report of the board of directors for the company’s business/activities along with the financial statements for the year ended December 31, 2024.
Approvals were given to the distribution of cash dividends to shareholders at 45.17 fils per share or 45.17 per cent of the paid-up capital (inclusive of the interim dividend of 18.59 fils per share which was already distributed to shareholders on September 11, 2024), which is BD63,948,538 for the year ended December 31, 2024, and the transfer of BD120,593,462 to the retained earnings.
The discussion also covered the corporate governance report for 2024, and the meeting approved the re-appointment of Ernst & Young as the company’s external auditors for the fiscal year 2025.
During the extraordinary general meeting, the minutes of the previous meeting held on March 7, 2024 were reviewed and approved. Approvals were also given to the amendment and restatement of the memorandum and articles of association (Article no. 7) by removing Sabic Industrial Investments Company (Commercial Registration No. 10101812081) and adding Saudi Arabia Mining Company (Ma’aden) (Commercial Registration No. 1010164391) subject to the approval of regulatory authorities.
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