Commercial Bank of Dubai P.S.C.

On January 22, 2024, the Board of Directors of the Commercial Bank of Dubai P.S.C. notified the Dubai Financial Market of their intention to issue a Board Resolution by Circulation on January 24th, 2024. This resolution will consider a recommendation from the Remuneration, Nomination, and Governance Committee regarding the assessment of candidates for Board Membership. The notification was sent by the Board Secretary, Mr. Ahmed Ali Al Jaziri. A copy was also sent to the Securities and Commodities Authority.

A Board of Directors meeting was held for the Commercial Bank of Dubai P.S.C. on 5th January 2024. The meeting noted a request from Al Futtaim Private Co. LLC, a shareholder owning 10.5% of the bank's capital, to postpone the review of a proposed resolution until the Annual General Meeting of the bank's shareholders. It was also confirmed that the deadline for submitting nominations to the Board of Directors of the Commercial Bank of Dubai PSC was on 5th January 2024 at 04:00 p.m.

On January 3, 2024, a letter was sent to Mr. Hamed Ahmad Ali, CEO of the Dubai Financial Market, announcing a meeting of the Board of Directors of the Commercial Bank of Dubai P.S.C. The meeting is scheduled for January 5th, 2024, at 10 a.m. The agenda includes discussing a request from Al Futtaim Private Co. LLC, a shareholder owning 10.5% of the bank’s capital, to hold a shareholders' meeting. This request is based on Article 176 of the Commercial Companies Law. The meeting’s agenda, date, and venue will also be approved. A copy of the letter was sent to the Securities and Commodities Authority.

The Board of Directors of a company has announced the opening of nominations for its board membership. The nomination period will run from 8 a.m. on Monday 18th December 2023 to 4 p.m. on Friday 5 January 2024. Anyone meeting the nomination criteria can apply for membership. The board will comprise of 11 members, all of whom must be UAE nationals, non-executive and at least a third must be independent members. At least one board member must be female. Nominations will be open for 10 days from the announcement date. Nominees must meet certain conditions as per Federal Decree-Law No. (32) of 2021 and other regulatory guidelines. Candidates cannot withdraw their nomination after the closing date. The list of nominees will be published on the company's website, after approval from the Central Bank of the UAE, and no later than 5 days before the Annual General Assembly of the Shareholders. Applications can be sent via courier or email.

The Board of Directors of the Commercial Bank of Dubai PSC held a meeting on 13th December 2023. The board approved the minutes of the previous meeting, which took place on 25th October 2023. They also approved the announcement for the opening of nominations for membership of the Board of Directors and discussed normal business activities. The information was relayed to Mr. Hamed Ahmad Ali, the CEO of the Dubai Financial Market, by the Board Secretary, Mr. Ahmed Ali Al Jaziri. A copy of the communication was also sent to the Securities and Commodities Authority.

A meeting of the Board of Directors of the Commercial Bank of Dubai P.S.C. is scheduled for Wednesday, December 13th, 2023 at 9 a.m. The agenda includes approval of the minutes from the previous meeting held on October 25th, 2023, approval of the announcement for board membership nominations, discussion of regular business activities, and any other business matters. The information was communicated by the Board Secretary, Mr. Ahmed Ali Al Jaziri, to Mr. Hamed Ahmad Ali, the CEO of Dubai Financial Market. A copy was also sent to the Securities and Commodities Authority.

The Commercial Bank of Dubai PSC Group has released its condensed consolidated interim financial statements for the nine-month period ending on 30 September 2023.