2023 maib AGM results
Today maib held its Annual General Shareholder Meeting (AGM) in Chisinau. Holders of 76.7% of the votes were present at the meeting. All resolutions presented at the AGM were passed with the requisite majority of two thirds of the votes.
Vytautas Plunksnis, maib chairman, noted:
"I am pleased with the outcome of maib's AGM and would like to thank all the shareholders for their participation and support. Maib's strong capital position and disciplined strategic approach allows us to both pay dividends and support growth of the Bank. I would also like to express my gratitude to maib team for excellent financial results in 2022 and continued focus on maib's transformation"
The full results are detailed below:
1. and 2. The Bank's Annual Financial Results and Supervisory Board Annual Report for 2022. The shareholders voted to accept the Annual Financial Report for 2022 and to approve the Bank’s Supervisory Board Annual Report for 2022.
3. Distribution of Bank’s annual profits for 2021-2022, including the annual dividends for the period. The shareholders voted in favour of the proposed dividend of MDL 1.91 per share. Total dividend distribution amounted to MDL 198.2 million. Record date for dividend distribution is set on 19 June 2023 meaning that shareholders on register as of that date will be entitled to the dividend payment. Dividend payment date will be communicated later, but will take place no later than 3 months after the AGM. Maib intends to apply to NBM for payment of additional dividends in 2023.
4. Policy covering the Bank’s profit distribution for 2023. The shareholders voted to accept the proposed profit distribution policy whereby 30% to 50% of the Bank's 2023 profits is allocated to dividend payment subject to the approval by the National Bank of Moldova.
5. Share buyback by the Bank. The shareholders adopted the proposed share buyback of up to 5% of outstanding shares (5,188,170 shares) at a fair price. The term of the buyback is up to one year from adoption of the resolution. The buyback is subject to the approval of the National Bank of Moldova.
6,7 and 8. Appointment of Bank's auditor, Amendments to Supervisor Board's regulation, and Amendments to the Bank' statute. The shareholders voted in favour of re-appointing PWC as auditor for 2023-2025 and agreed upon fees for audit work, and and approved the proposed ammendments to Supervisory Board's regulation and the Bank's statute.
All the materials reviewed and the resolutions adopted at the meeting are published on the Bank's website in the information disclosure section.
Please contact the organisation team of the AGM for more info:
Maib is the largest bank in Moldova, with a share of 31.9% of deposits and 37.0% of loans of the entire banking system at the end of Q1 2023. Maib is a disciplined lender with NPL ratio of 2.3% and is well capitalised with CAR of 21.8% as of 31 March 2023. The Bank is of systemic importance and serves almost a third of the country's population. Since 2018, maib's largest shareholder is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltic States and Horizon Capital, a private investment fund focused on emerging markets.
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