The meeting was chaired by Eng Abdul Hafidh Salim al Aujaili, chairman of the board and attended by the board members, senior management of the bank and shareholders, according to a press statement.
The extraordinary general meeting approved the issue of tier 1 capital instrument (additional tier 1 perpetual bonds) in an indicative amount of up to US$300mn (RO115.5mn), BankDhofar said in a filing to the Muscat Securities Market (MSM).
As per the bank’s disclosure, the perpetual bonds are proposed to be issued at some time over the next five years and to be listed and traded on the Euronext Dublin (formerly traded as Irish Stock Exchange) and/or to be listed and traded on the Muscat Securities Market through public subscription or private placement.
The issuance of additional tier 1 perpetual bonds is subject to any regulatory and other approvals, and based on the bank’s needs and prevailing market conditions, BankDhofar said.
The bank’s shareholders unanimously authorised the management team and/or the board of directors to take the required procedures and actions to implement the issuance of perpetual bonds.