Kuwait International Investment Holding Company  (KIIC) will hold its Annual General Meeting (AGM) for the financial year ended 31 December 2021, on Thursday, 16 June 2022, in order to discuss the Board of Directors’ report on the company’s business and financial position and the auditors’ report on the financial statements for the financial year ended 31 December 2021. The AGM will also discuss the financial statements and final accounts for the financial year ended 31 December 2021 and will read a report on any penalties imposed on the company by the regulatory authorities (if any).
The AGM agenda also include reviewing related parties’ transactions report for the transactions that took place in the financial year ended 31 December 2021 or that will take place in the following financial year and authorize the company deal with related parties in the financial year ending 31 December2022.
Moreover, the AGM will discuss the board of directors’ recommendation to distribute 15% or 15 fils per shares cash dividends for the financial year ended 31 December 2021, to shareholders registered in the company’s records as of the AGM date, after excluding treasury shares, as well as distribution of 20% of the issued and paid-up capital as bonus shares, amounting to 6,705,593 shares, to be distributed to the shareholders registered in the company’s records on the AGM date and to authorize the Board of Directors to dispose of any fractional shares, if any. The AGM will discuss the Board of Directors’ recommendation to pay renumerations to board members for the financial year ended 31 December 2021 for an aggregate amount of KWD 80,000.
Additionally, the EGM will discuss absolving board members from all matters related to their financial, administrative and legal actions for the financial year ended 31 December 31, discuss the appointment or reappointment of the company’s auditor for the financial year ended 31 December 2022, and authorize the board of directors to determine their fees, subject to choosing the auditors from the Capital Market Authority’s approved list of auditors and to discuss the election of a new board of directors for the next three years.