Arab Palestinian Investment Company (APIC) held its extraordinary and ordinary general assembly on Monday, May 9, 2022, in Ramallah, Palestine. The meeting, which was chaired by APIC Chairman and CEO Tarek Aggad, was attended by members of APIC’s Board of Directors, representatives from the Ministry of National Economy – the Companies’ Controller Office, the Palestine Capital Market Authority and Palestine Exchange, the external auditor of the company, its legal counsel and many of its shareholders.
In its meeting, the general assembly ratified dividend distribution for registered shareholders as of May 8, 2022, of 17.14% of APIC’s paid-in capital amounting to USD 105 million to date, around 10.476% as cash dividends amounting to USD 11 million and around 6.666% as seven million in bonus shares. Accordingly, APIC’s paid-in capital will reach USD 112 million following the bonus share distribution.
A new board of directors was elected as well, comprising 13 board members for the next four years, businesswomen and businessmen from Palestine, Saudi Arabia, Jordan, the United Arab Emirates, the United Kingdom and the United States of America, whose expertise spans across various fields including investment, governance, manufacturing, trade, services, finance and entrepreneurship, including Tarek Omar Aggad, Tarek Shakaa, Lana Ghanem, Maysa Baransi, Hashim Shawa, Leena Khalil, Olga Aburdene, Ahmad Atwan, Nashat Masri, Mohammad Abukhaizaran, Dr. Durgham Maraee, Khalid Kayyali, and Dr. Mazen Hassounah.