Proposed Amendments to the Memorandum of Association of ZamZam Bank S.C.
ZamZam BankAmharic schedule of proposed amendments to ZamZam Bank S.C.'s memorandum of association, published to shareholders ahead of the extraordinary general meeting. Eight numbered amendments are set out with the superseded and replacement wording side by side: additional objects under Article 4(2) permitting the establishment of subsidiaries or sister companies and the purchase and sale of buildings; a new Article 7(8) providing that the bank's shares shall be issued in dematerialised form under Article 272(2) of the Commercial Code; a new Article 10(4) disapplying the paper share-certificate provisions once shares are replaced by dematerialised shares; deletion of the supervisory board (ተቆጣጣሪ ቦርድ) from the list of the bank's governance organs in Article 14(c), leaving the general assembly, the board of directors, the sharia advisors, the chief executive officer, the external auditor and the company secretary; an increase in the size of the board under Article 18(1) from 11 to 13 members elected by the general assembly; revised board meeting notice and frequency provisions in Articles 21(4) and 21(6) tied to the National Bank of Ethiopia's minimum periods and permitting electronic notice; and deletion of Article 25 on the powers and duties of the supervisory board with consequential renumbering of Articles 26-44 as 25-43. The document carries no printed issue date; the publisher's upload date on zamzambank.com (24 December 2024) is used as the publication date.
- Institution
- ZamZam Bank
- Type
- regulatory-filing
- Fiscal year
- 2017EC
- Published
- Language
- አማርኛ
- Pages
- 3
- File size
- 585 KB
- Source checked