European Islamic Investment BankPLC General Meeting 31 December 2013 (3433W)

TIDMEIIB

RNS Number : 3433W

European Islamic Investment BankPLC

24 December 2013

European Islamic Investment Bank plc

("EIIB" or the "Company")

General Meeting 31 December 2013

Pursuant to a requisition delivered by Esterad Investment Company and Al Bassam Investment Company (the "Requisitioners") to the Company, the board of the Company has circulated to the Company's shareholders a notice (the "Notice") to convene a general meeting on 31 December 2013 (the "Meeting") and a 1000-word statement prepared by the Requisitioners and an accompanying response by the Company's Chairman ("the Statement"). Both the Notice and the Statement have been published on the Company's website.

Business to be conducted at the General Meeting

The Requisitioners and proposed directors: Mr Abdulla Saif; Omar El-Abd; Stefan Allesch-Taylor; and Mr Frederick Stonehouse ("Nominees") have failed to comply with the requirements of Article 70.2(b) of the Company's Articles of Association. Consequently, the board will be unable to put resolutions 3 to 6 inclusive, proposing appointment of the Nominees to the board of the Company, to the vote at the Meeting.

The Company is still required by law to hold the Meeting, but only resolutions 1, 2 and 7 will be voted on. In consequence of non-compliance with the Articles of Association by the Requisitioners and Nominees, resolutions 3 to 6 inclusive will not be voted on.

Resolutions to be voted on:

   1.   THAT Mr Michael Toxvaerd be removed from office as a director of the Company immediately; 

2. THAT Mr Mohammed Al Sarhan be removed from office as a director of the Company immediately; and

7. In summary, to generally and unconditionally authorise the Company to make one or more market purchases of the Company's ordinary shares.

Resolutions which will not be voted on in consequence of non-compliance by the Requisitioners and/or the Nominees:

   3.   THAT Mr Abdulla Saif be appointed as a director of the Company immediately; 
   4.   THAT Mr Omar El-Abd be appointed as a director of the Company immediately; 
   5.   THAT Mr Stefan Allesch-Taylor be appointed as a director of the Company immediately; and 
   6.   THAT Mr Frederick Stonehouse be appointed as a director of the Company immediately. 

Advice to Shareholders

Shareholders who have already submitted a completed form of proxy need take no action. Any votes indicated in relation to resolutions 3 to 6 inclusive will be disregarded.

The board of directors of the Company recommend that you vote AGAINST the remaining resolutions 1, 2 and 7.

Enquiries:

 
 EIIB plc                      Tel: [phone] 
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 Zulfi Caar Hydari, CEO 
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 Westhouse Securities            Tel: [phone] 
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 Antonio Bossi 
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This information is provided by RNS

The company news service from the London Stock Exchange

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