Annual general meeting of the shareholders of XacBank and TenGer Financial Group
The Annual General Meeting (“AGM”) of the Shareholders of XacBank and TenGer Financial Group was held on 29 March 2018 with a participation of all 12 Shareholders forming a full quorum of 100 percent. The Independent Directors of the Board of Directors of XacBank participated in the Annual General Meeting to express independent judgment on the agenda items and the decisions of the Board of Directors. The Annual General Meeting considered and approved the following matters.
- The AGM approved the 2017 annual operational and financial results and the 2017 audited financial statements of XacBank and TenGer Financial Group.
- Mr. Julian Healy, re-nominated by European Bank for Reconstruction and Development, and Mr. Yves Jacquot, re-nominated by National Bank of Canada, were re-elected as Non-Executive Directors on the Boards of Directors of XacBank and TenGer Financial Group.
- Mr. Ryoji Nishimura, nominated by ORIX Corporation of Japan, was newly elected as Non-Executive Director on the Boards of Directors of XacBank and TenGer Financial Group.
- Mr. Ulambayar Bayansan was re-elected as Independent Non-Executive Director on the Board of Directors of XacBank based on the re-nomination of the Governance, Nomination and Compensation Committee of XacBank.
- The AGM considered and approved the budget of the Boards of Directors for 2018 of XacBank and TenGer Financial Group.
