Notice of Delay of the National Bank of Dominica Ltd.
18th Annual General Meeting
Dated June 17th, 2022
As part of the Board of Directors’ commitment to be transparent and engaging with shareholders on fundamental business developments, the Board takes this opportunity to advise of the delayed hosting of the Bank’s 18th Annual General Meeting.
This delay is due to several factors beyond the control of the Bank. The external auditing of the Bank’s financial statements for the year ended June 30, 2021, is in progress and the time to complete the audit has been extended due to post Royal Bank of Canada (RBC) Acquisition-related matters.
The Royal Bank of Canada (RBC) Acquisition related matters continue to be addressed by members of the Consortium of Banks that acquired the assets and liabilities of the former RBC throughout the Eastern Caribbean in April 2021.
Delays of this nature are not uncommon and are in fact typical of significant acquisition transactions.
The Bank continues to dialogue with the External Auditors (KPMG) and Regulators- (Eastern Caribbean Central Bank (ECCB), and Eastern Caribbean Securities Regulatory Commission (ECSRC)) to approve the necessary extension of the time by which to publish the audited financial statements under the relevant legislation and regulations including the Banking Act 2015 and amendments and Securities Act 2002.
The Board of Directors will notify the shareholders of the date of the 18th AGM in subsequent correspondence in accordance with the Bank’s by-laws.
Shareholders who may have any query and/or concern, should contact the Office of the Corporate Secretary at 767-255-2320/2313 or email at email@example.com.
The Board of Directors expresses its appreciation to shareholders for your understanding under this circumstance and regrets any inconvenience.
We look forward to engaging with and seeing you at the 18th AGM.
By Order of the Board
NATIONAL BANK OF DOMINICA LTD.
17th June 2022