Fresh off the heels of its recent General Shareholders’ Meeting, CIH Bank is already preparing for another major gathering. On June 11, 2025, at 4 p.m., the bank will host an Extraordinary General Meeting at its headquarters in Casablanca. This meeting carries significant weight, as shareholders will be asked to approve a capital increase that could reach as much as 1.5 billion dirhams, including the share premium.
The proposed move is part of the bank’s ongoing plan to strengthen its capital base. The issuance of new shares will respect the rights of existing shareholders, who will retain their preemptive subscription rights, in line with current regulations. The bank’s board of directors will be tasked with overseeing the entire process, from setting the subscription price and timeline to determining the number of shares to be issued and managing the allocation of any remaining shares.
Under the proposed resolution, the new shares would carry dividend rights from the first day of the fiscal year in which the capital increase is finalized. Subscriptions will be offered first on an irreducible basis, proportionate to existing holdings, giving current shareholders priority. Should any shares remain unsubscribed, shareholders will then have the opportunity to apply for additional shares on a reducible basis.
The board of directors is expected to report back to the next General Meeting with the final details of the capital increase. While the procedure itself follows standard corporate practice, it is considered critical to support the bank’s expansion plans and ensure that it stays on track with its growth strategy.
Participation rules remain unchanged: shareholders listed on the company’s shareholder register at least five days prior to the meeting may attend or be represented by proxy. Shareholders will also have the option to vote by mail.
