Al-Nawadi Holding Company will hold its Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) for the financial year ended 31 December 2021 on Thursday, 21 April 2022, to discuss the following agenda items for both meetings:
AGM’s Agenda:
-Hear and approve the Board of Directors’ report for the financial year ended 31 December 2021.
Hear and approve the auditor’s report for the financial year ended 31 December 2021.
Discuss and approve the financial statements for the financial year ended 31 December 2021.
- Hear the violations reports and the penalties issued by the regulatory authorities (if any).
– Hear the related parties transactions report for all transactions that have taken place or will take place with related parties.
- Deduct 10% from net profits towards the statutory reserve for an aggregate amount of KWD 587,353. Discuss the deduction of 10% from net profits towards the voluntary reserve for an aggregate amount of KWD 587,353. Discuss the Board of Directors’ recommendation for a cash distribution of 15% of the issued and paid-up capital in the amount of KWD 3,446,258.805 to shareholders registered in the company’s records as of the AGM date Discuss absolving Board of Directors’ members and releasing them from all matters related to their legal, financial, and administrative actions for the financial year ended 31 December 2021. Discuss the payment of KWD 60,000 in remunerations to board members for the financial year ended 31 December 2021. Appoint or reappoint the auditor for the financial year ending 31 December 2022 and authorize the Board of Directors to determine their fees. Elect new members for the company's board of directors for the next three years.
EGM’s Agenda:
Approve the amendment of Article (13) of the company’s Articles of Association as follows: The management of the company is assumed by a board of directors consisting of (3) three members, appointed by the entity or entities that are entitled to appoint such members pursuant to Decree-Law No. 25 of 2012, pro rata to their ownership in the company’s capita. The remaining members shall be elected by a secret ballot.