- Discussion, approval and ratification of the board of directors’ report on company’s activities, financial position and the operations results for the fiscal year ending December 31, 2023.
- Reciting, approval, and ratification of the corporate governance report and audit committee report for the fiscal year ending December 31, 2023.
- Discussion, approval, and ratification of the auditor’s report on the financial statements results for the fiscal year ending December 31, 2023.
- Discussion, approval, and ratification of the financial statements for the fiscal year ending December 31, 2023.
- Presenting any violations observed by the regulatory authorities and any penalties issued as a result of those violations that resulted in imposing penalties (financial and non-financial) on the company (if any)
- Presenting and approving the board of directors related parties’ transactions report for the fiscal year ending December 31, 2023, as well as the related parties’ transactions to be carried out for the fiscal year ending December 31, 2024.
- Discussion of the proposal of the Board of Directors not to distribute dividends for the fiscal year ending December 31, 2023.
- Discussion of the Board of Directors’ authorization to distribute interim dividends (semiannual or quarterly) starting from the company’s first interim financial statements after completing the merger with First Dubai Real Estate Development Company and authorizing the Board of Directors to determine the dividends distribution percentage, subject to having the distribution from real profits, and in accordance with generally accepted accounting principles. This distribution shall not affect the paid-up capital of the company.
- Discussion of the proposal of the Board of Directors not to pay board members remuneration for the fiscal year ending December 31, 2023.
- Discussion of the approval granted to the Chairman or any of the Members of the Board to have board membership in two competing companies or to participate in any business that competes with the company or to trade for their own accounts or others' accounts at any of the Company’s branches/offices for the year 2024 in accordance with Article no. 197 of the Companies Law no. 1 of 2016: as well as article 20 of the Statute of the company.
- Discussion of the approval granted to those who have a representative at the Board of Directors, the chairman, any of the board members or a member of the executive management or their spouses or relatives of the second degree to have direct or indirect interest in the contracts concluded with the company for the year 2024 in accordance with the provisions of Article 199 of the Companies Law No. 1 of 2016 and in accordance with the provisions of articles (4/7, 5/7, 6/7) of the Sixth Rule of chapter seven of book 15 of the executive bylaws of law No. 7 of 2010 in relation to establishment of the Capital Markets Authority and Organizing Securities Activities.
- Discussion of the approval granted to authorize the board to purchase or sell Company shares at no more than 10% of the total shares as per the articles of Law no. 7 of 2010, and its executive bylaws and amendments thereafter.
- Discussion of providing clearance to the Board Members for all matters related to their legal, financial and administrative actions for the Fiscal Year ending December 31, 2023.
- Discussion of the approval of the social responsibility budget within the financial statements for the fiscal year ending on 31/12/2024 with a total amount of KD 40,000 (Forty Thousand Kuwaiti Dinars).
- Discussion of the reappointment of the External Auditor for the fiscal year ending on 31/12/2024 and authorizing the Board of Directors to determine their fees. The external auditor must be among those registered in the special registry at the CMA, taking into account the period of the mandatory change of the external auditor.
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Items of the Agenda
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