The Annual General Meeting of Golomt Bank shareholders was held April 17, 2025. All shareholders with voting rights participated in the meeting with an attendance of 90.81 percent and discussed the following issues.
Issues discussed:
- 2024 Operational and Financial Report of “Golomt Bank” JSC
- Board of Directors’ conclusion on the 2024 Operational and Financial Report of Golomt Bank JSC
- Independent Auditor’s Report on 2024 Financial Performance
- Board of Directors Resolution on Dividend Allocation from 2024 net profit
- 2024 Board of Directors Report and Remuneration Budget for 2025
- Election of the Board of Directors
- Increasing the number of ordinary shares authorized by Golomt Bank and pre-emptive rights of shareholders to purchase additional ordinary shares.
- Approval of amended Charter of Golomt Bank.
- Change in share ownership
Independent Auditor’s Report
The financial statements of Golomt Bank JSC as of December 31, 2024 were audited by KPMG Audit LLC. In its independent auditor’s report, dated March 28, 2025, KPMG concluded that the bank’s financial position, performance, and cash flows for 2024 are fairly presented in accordance with International Financial Reporting Standards (IFRS).
Dividend Allocation
With the approval of the Board Resolution 00/01 dated February 17th, 2025, regarding allocating dividend from the 2024 net profit of Golomt Bank, it was decided to allocate dividend of MNT 100 per ordinary share. According to the relevant laws and regulations, the dividends will be processed through the Mongolian Central Securities Depository (MCSD) into each individual minority shareholder’s account within the month of April based on the permissions obtained from the Central Bank, which is currently pending.
The Annual General Meeting of Golomt Bank was held in combination of in-person and online format, and the following decisions were made based on the tabulation of votes of the shareholders with voting rights who participated in the meeting.
Meeting Decisions:
- Approved the 2024 Operational and Financial Performance and the Board of Directors conclusion.
- Approved the Board Remuneration Budget for 2025 according to the budget proposed in the meeting.
- Election of Nominee and Independent Directors to the Board of Directors of Golomt Bank JSC, through cumulative voting system, for a term of three years until the Annual General Meeting of 2028.
The following individuals were elected as nominee members of the Board of Directors:
- Chultem Munkhtsetseg
- Jigjid Unenbat
- Dagva Munkhtur
- Ochirpurev Ganjoloo
The following were elected as independent members of the Board of Directors:
- James B. Dwyer III;
- Alexander Picker;
- Robert W. van Zwieten;
- Hans Holzhacker;
- Ronil Sujan.
- The bank’s authorized shares have been increased to 1,150,000,000 (one billion one hundred fifty million) ordinary shares. Further resolved that the shareholders’ pre-emptive right to purchase additional ordinary shares shall not be exercised in case ordinary shares in an amount of up to 12 (twelve) percent of the Company is issued.
- Relating to the process of liquidation, approved the right to transfer the 20,800,000 (twenty million eight hundred thousand) ordinary shares owned by Golomt Investment Limited, to its sole shareholder Bodi International LLC. As a result, the total shareholding of Bodi International LLC in Golomt Bank will increase to 48,461,497 (forty-eight million four hundred sixty-one thousand four hundred ninety-seven) ordinary
- The bank’s Charter has been amended, with Clause 3.2 of Article 3 revised to read: “The Bank has 1,150,000,000 (one billion one hundred fifty million) ordinary shares with par value of MNT 250 (two hundred fifty) each”.
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