Alba¡¯s Annual General Meeting announces approval for 2013 cash dividends and the newly appointed Chairman

Aluminium Bahrain B.S.C. (Alba), held its Annual General Meeting ‘AGM’ on Thursday, February 27, 2014 at the Gulf International Convention Centre, Gulf Hotel, Kingdom of Bahrain, during which approval was given to the distribution of cash dividends related to the fiscal year 2013.

The total dividends for the fiscal year 2013 amounted to US$ 105 million (BD 50.7 million) - equivalent to 36% of the nominal value of the company’s shares - which is 36 fils per share, of which 14 fils (interim dividend) has already been distributed to the shareholders in September 2013.

The final dividend for 2013 of US$ 82 million (BD 30.9 million) will be payable from March 13, 2014 to Alba's shareholders of record as of February 27, 2014.

During the AGM, the shareholders approved the appointment of the new Chairman of the Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa. The 2013 Corporate Governance Report was tabled before the shareholders.

Commenting on the AGM, the former Chairman of Alba's Board of Directors, Mr. Mahmood Hashim Al Kooheji said:

“I would like to thank Alba’s Board of Directors for their strategic guidance throughout the years, the trust they have placed in me, and would also like to extend my appreciation to the Executive Management Team for their support in making things happen. I take the opportunity to welcome on board the new appointed Chairman Shaikh Daij Bin Salman Bin Daij Al Khalifa and wish him all the best in his new position.”

The new appointed Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa added:

“I am privileged to be appointed as the new Chairman of Alba’s Board of Directors and as a member of the Board of Directors. I look forward to work with my fellow Board members and Alba’s Executive team to keep up the good momentum, achieve further success as well as continue to deliver value to our shareholders. I would also like to express my sincere thanks to Mr. Mahmood Hashim Al Kooheji whose dedication has steered Alba to prosper during his tenure and to be one of the leading smelters in the world.”

At the end of the AGM, Ernst & Young was approved to continue as the company’s external auditors for the fiscal year in 2014.

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