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03 Mar 2014 - United Arab Bank AGA and EGA Approve the Distribution of Cash and Scrip Dividends

United Arab Emirates, 3 March 2014 -United Arab Bank P.J.S.C. ("UAB"), successfully held its 40th Annual General Assembly (AGA) and an Extraordinary General Assembly (EGA) on Monday, 3 March 2014, at the Coral Beach Resort in Sharjah. Chaired by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, the AGA adopted the consolidated financial statements for the year ended 31 December 2013, the distribution of cash dividend and bonus shares, and re-appointed KPMG as the external auditors of the Bank for 2014. The AGA was followed by an EGA meeting which approved the amendment of the Articles of Association of the Bank, subject to the approval of the Central Bank.

The AGA approved a cash dividend of AED 149.5 million (being 15% of the paid up share capital) and a scrip dividend of AED 149.5 million (being 15% of the paid up share capital). This was considered to be in the best interests of the Bank and its shareholders but is subject to obtaining the final approval of the Central Bank, by no later than Sunday, 9 March 2014. Should the Central Bank approval not be obtained, then a lower distribution of 15.06% of the Bank's paid up capital as cash dividend amounting to AED 150 million, and 10% of the Bank's paid-up capital as bonus shares, amounting to AED 99.6 million, will be paid according to a pre-approved amount by the Central Bank. The final dividend proposal and the full set of the financial statements will be disclosed following the Central Bank's approval.

The record date for the entitlement to the dividend was set as Thursday, 13 March 2014. The dividend cheques will be sent to shareholders by registered post within 30 days from the AGA date, in accordance with the local applicable laws.

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