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Ajman Bank shareholders authorize capital increase

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Ajman Bank shareholders authorize capital increase

shareholders approveda proposal to increase the bank's authorized capital to 2.1 billion United ArabEmirates dirhams and to increase the paid-up capital to 1.55 billion dirhamsfrom 1.05 billion dirhams.

Thepremium will be 35 fils per share. The capital increase is subjectto regulatory approvals.

The April13 annual general meeting also approved a proposal to reduce its board to sevenmembers from eight to comply with a law that says the number of board membersshould be odd.