send to a friend by email

The Arab Islamic Bank sought inclusion of the additional shares distributed as dividends to its shareholders

2007-07-02

The Arab Islamic Bank sought inclusion of the additional shares distributed as dividends to its shareholders

On 26-06-26 The Arab Islamic Bank steps forward to request the inclusion of additional shares to the banks shareholders as decided by the Banks Assembly on 29-04-2007 concerning the distribution of free shares worth 2.1 million dollars to shareholders. This comes after the submission of the request to get a necessary legal approval from the capital market, corporate observers and the Palestinian Monetary Authority. Therefore the authorized capital has and become 37.1 million dollars; making the subscribed capital 35,543,388.The difference was caused by the non subscription of shareholders to the whole quantity offered last year. On 30-04-2006 the Banks Public Authority decided to increase the capital up to $35 million by issuing new shares of 12,771,500 to the secondary public subscription to its shareholders. Shareholders entitled to dividends could disposition new equity after the banks ratification to detect the distribution of shares. The market will inform financial security companies of the members as soon as the ratification of the bank.