Dear Shareholders,

As we approach our Annual General Meeting (AGM) on 19 June 2024 at Maib Park, we would like to remind you of the event. Detailed information about the meeting is provided towards the bottom.

 

Proposed dividends and share buyback

Maib proposes MDL 757 million dividend payout covering 2021-2023. This translates into MDL 7.30 per ordinary share. The payout received preliminary approval from the National Bank of Moldova (NBM). 

Maib proposes MDL 231 million share buyback to cover its Long Term Incentive Plan. The amount made available for the buyback was pre-approved by the NBM.

The total amount of capital return for 2021-2023 period, including the MDL 198 million dividend paid in 2023, is MDL 1.2 billion or 38% of the net profit for the period. This is consistent with maib’s dividend policy of returning between 30% and 50% of net profit to shareholders.

 

Updated list of new candidates to the Supervisory Board

Maib is committed to upholding the highest standards of corporate governance, recognizing its critical role in fostering trust, accountability, and sustainable growth. One of the key areas of focus is on assembling a Supervisory Board that possesses the diverse skills and expertise necessary to guide the Bank forward, including financial acumen, technological innovation, risk management, customer focus and sustainability. With this in mind, shareholders are invited to vote on the composition of the Supervisory Board electing 7 out of the 8 candidates presented below, in accordance with Moldovan legislation.

The following current members of the Supervisory Board are proposed for renewal of term:

• Vytautas Plunksnis, Chairman of the Supervisory Board, member of Risk committee, 6 year tenure with maib
• Victor Miculet, Deputy Chairman of the Supervisory Board, member of Nomination and Remuneration committee, 26-year tenure with maib, including Chairman of Supervisory Board
• Natalia Vrabie, member of Risk committee and member of Audit committee, 33-year tenure with maib in various capacities including CEO
• Konrad Kozyk, independent director, Chairman of Risk committee and member of Audit committee, 4 year tenure with maib
• Vasile Tofan, Chairman of Nomination and Remuneration committee and member of Audit committee, 6 year tenure with maib

Three new candidates for the Supervisory Board are Andreea Pipernea, Madeline Alexander and Maksym Kuznetsov.

Andreea Pipernea is a senior executive and Certified Independent Director with 20+ years of experience in financial services organizations (corporate and investment banks, asset management, pensions, insurance) and has extensive exposure to the local entrepreneurial scene in Romania. Her most recent professional experience included CEO role at NN Pensii, largest private pension fund in Romania. Previously in her career she held executive roles with Citibank, Erste, RBS and ABN Amro in Romania, in addition to a number of advisory positions. Andreea has been authorised by Romanian securities regulator (ASF) for both executive and non-executive leadership roles in regulated entities. She is a graduate of ASE Romania and holds an MBA from ASEBUSS Romania.

Madeline Alexander is a business professional with 30 year international career, Madeline established KPMG Romania office in 1999. She continued career with Deloitte as Senior Audit Partner until May 2020. She has extensive experience in financial analysis, reporting, audit, internal audit, investor relations, business development, and compliance for publicly listed companies. Since December 2020, Madeline was Audit and Advisory Partner at TGS Romania, leading financial audits and advisory projects. Currently, a board member and president of the audit and risk committees for two listed companies in Romania.

Maksym Kuznetsov is an investment professional with 10 year experience. His current role is Investment Director with Horizon Capital, where he was involved in multiple transactions across a number of sectors in Ukraine and Moldova. He is a graduate of Kyiv National Economic University and Rotterdam Business School.

 

AGM time and date

The Annual ordinary general shareholders meeting (AGM) of BC "MAIB" S.A. will be held on 19 June at 11:00 a.m., at Maib park, 31 August 1989, 127 street, Chisinau. The AGM will be held in-person.

The registration of participants at the Annual ordinary general shareholders meeting will be performed by the Registration Committee on the date of the Shareholders Meeting, at Maib park on the following address: 31 August 1989, 127 street, Chisinau, between 8:30 a.m. and 10:30 a.m.

In order to participate in the AGM, the shareholders should present an ID document to the Registration Committee, while the shareholders representatives should additionally present power-of-attorney documents (the extract from the legal entities State register or the power of attorney legalized as required).

 

Agenda of the AGM

Decisions regarding:

1. Approving the Bank's annual financial results for 2023.
2. Approving the Bank's Supervisory Board's annual report for 2023.
3. The distribution of the Bank’s capital and the annual profit, including the payment of dividends for 2021-2023.
4. The dividend policy for 2024.
5. Election of the members of the Bank's Supervisory Board.
6. The estimated costs of the Supervisory Board activity.
7. Share buyback.

 

The final list of those eligible to participate in the AGM is based on the shareholder register as of the date which falls 3 days before the AGM.

 

All materials regarding the agenda of the AGM are available on the maib website at the following address. These materials can also be accessed through the shareholders relations (AGM organizing) team at 31 August 1989, 127 street, Chisinau. Their contact details have been given below.

 

Contact AGM organizing team

Email:  Marcel.lazar@maib.md

Telephone: +373 22 303 615, +373 22 303 618

 

Recent investor relations releases

• Q1 2024 results: maib quarterly profits rise as net interest margin stabilizes
• Maib 2024 AGM Announcement
• Maib Publishes its 2023 Annual Report

 

Upcoming investor events

• 19 June - Annual ordinary general shareholders meeting (AGM) 2024
• 14 August - H1 & 2Q 2024 Financial Results Release and Conference Call

 

Contact investor relations

Maib Investor Relations
Evgenii Risovich
Phone: +37368403477
E-mail: Evgenii.Risovich@maib.md

 

Press Contact
Daniela Șerban
Phone: +40742242662
E-mail: Dserban@vertikgroup.eu