Alba holds its Annual and Extraordinary General Meetings for 2025
Manama, Bahrain – Aluminium Bahrain B.S.C. (Alba), the world's largest smelter on one site, held its 15th Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) on 12 March 2025 at Al Manama Ballroom at the Four Seasons Hotel, Bahrain Bay. The meeting was led by the Chairman of the Board Khalid Al Rumaihi with attendance from the Board members, Company's Executive Management, Alba shareholders, and representatives from regulatory bodies.
During the AGM meeting, the shareholders approved the appointment of Mrs. Rasha Sabkar as an expert Board member; in addition to ratifying the appointment of Mr. Khaled Rowais and Mr. Ahmed Al Shaikh as Board members. Moreover, minutes of the previous Annual General Meeting held on 07 March 2024 were reviewed and approved. The meeting also discussed and approved the Report of the Board of Directors for the Company's business/activities along with the Financial Statements for the year ended 31 December 2024.
Approvals were given to the distribution of cash dividends to shareholders at Fils 45.17 per share or 45.17 % of the paid-up capital (inclusive of the interim dividend of Fils 18.59 per share which was already distributed to shareholders on 11 September 2024), which is BD63,948,538 for the year ended 31 December 2024, and the transfer of BD120,593,462 to the Retained Earnings.
The discussion also covered the Corporate Governance Report for 2024, and the meeting approved the re-appointment of Ernst & Young as the Company's external auditors for the fiscal year 2025.
On this occasion, the Chairman of Alba's Board of Directors, Khalid Al Rumaihi, said:
'Despite market headwinds, 2024 saw Alba achieve record-breaking performance highlighted by a remarkable profit increase and industry-leading safety performance. This success is a direct result of the collective leadership of our Board and the exceptional dedication of our Executive team. Together, we have navigated complexity and delivered outstanding results.
I'm also confident that our clear vision, robust strategy, and dedication of our nationals, will continue to deliver exceptional long-term value and cement our industry leadership.'
During the Extraordinary General Meeting, the minutes of the previous meeting held on 07 March 2024 were reviewed and approved. Approvals were also given to the amendment and restatement of the Memorandum and Articles of Association (Article no. 7) by removing Sabic Industrial Investments Company (Commercial Registration No. 10101812081) and adding Saudi Arabia Mining Company (Ma'aden) (Commercial Registration No. 1010164391) subject to the approval of regulatory authorities.
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