Mubasher: Banader Hotels will hold its ordinary general meeting (OGM) on Wednesday, 15 March, to overview the board’s report on the financial statements of fiscal year 2016.
The shareholders will discuss the auditors’ report on the fiscal year, according to a bourse filing issued on Monday.
The OGM will also consider raising the borrowing limit to KWD 35 million from KWD 25 million.
Banader’s shareholders will discuss the possibility of obtaining a subordinated loan worth BHD 16.8 million or less from BMMI Group, the company said, noting that it will be a convertible loan into preferred shares, subject to the approval of Central Bank of Bahrain and regulatory authorities.
