Events

Annual General Meeting for the financial year ending 31 December 2017

Date and Time: 
22 April 2018 - 10:30 AM
Location: 
Global Tower

Ordinary General Meeting Articles for the fiscal year ended 31 December 2017

 

1

Listening to the report of the Board of Directors for the financial year ended 31 December 2017 and ratifying the same.

2

Listening to the report of the Company’s auditors for the financial year ended 31 December 2017 and ratifying the same.

3

Listening to the corporate governance report and the Audit committee report for the financial year ended 31 December 2017.

4

Ratifying the balance sheet and income statements for the financial year ended 31 December 2017.

5

Listening to the report on the monetary and non-monetary penalties imposed by the Capital Markets Authority or any regulator for the financial year ended 31 December 2017.

6

Approving Board of Directors to transact with related parties for the year ending 31 December 2018 and listening to the report of related party transactions conducted during the financial year ended 31 December 2017.

7

Approving to pay the Company’s Board of Directors an aggregate remuneration of KWD 146,644 in addition to sitting and attendance fees for attendance of board meetings and meetings of the various sub-committees during the financial year ended 31 December 2017.

8

Approving the Board of Director’s recommendation to pay 5% cash dividends of the nominal value of the share (KWD 2,850,844.900) for the financial year ended 31 December 2017 representing 5 fils per share for shareholders registered on the Company’s share registrar on the date of the Ordinary General Meeting

9

Approving the deduction of 10% of net profit to be appropriated to the voluntary reserve account amounting to KWD 270,851.

10

Approving to authorize the Board of Directors to buy or sell up to 10% of the Company’s Treasury shares in accordance with the provision of articles of the Law no 7 of 2010 and the executive regulations and any amendments thereto.

11

Approving the Board of Director’s recommendation to provide prospective investors in the Company with the Company's business plan for the coming three years, in accordance with the controls determined by the Board of Directors.

12

Listening to the report pertaining to the remunerations and benefits offered to the board members and executive management for the financial year ended 31 December 2017.

13

Discharging the members of the Board from any liability pertaining to their legal and financial actions in the financial year ended 31 December 2017.

14

Appointing or reappointing the Company’s Auditors for the financial year ending 31 December 2018 from CMA’s accredited list of external auditors taking into consideration the mandatory change of auditors’ term, and authorizing the Board of Directors to determine the auditor’s remuneration for the services performed in the financial year ending 31 December 2018.