Clarifying Statement from Doha Bank Regarding the Issuance of Tier 1 Capital Notes
With reference to the press statement published in the local newspapers on October 7th, 2013 in the name of His Excellency Sheikh Fahad bin Mohammad bin Jabor Al Thani – Chairman of the Board of Directors of Doha Bank, under the heading “Doha Bank’s Board of Directors intends to Issue Tier 1 Capital Notes”, and the resolution of the Board of Directors issued on October 6th, 2013 regarding the Board’s discussion of the proposed issuance of Tier 1 capital of Doha Bank (“Capital Increase”), we would like to clarify to the shareholders that the recommendation that will be submitted to the Extraordinary General Assembly of the shareholders by the Board is not intended to increase the number of the bank’s current capital shares through the issuance of new shares, but is intended to strengthen the bank’s Tier 1 capital through the issuance of notes in the State of Qatar of a special nature that qualifies those bonds to be subordinated Tier 1 capital notes in order to strengthen the bank’s capital adequacy ratio. Therefore, the issuance of these notes will not entail offering any new shares for subscription, and Doha Bank’s capital shall remain at its current level of 258,372,252 and any dividend distributions will be for the shares of the current capital of the bank. This is only for clarification.