Reem Real Estate Company held its Annual General Meeting (AGM) in the presence of representatives from the Public Authority for Minors Affairs, the Integrated Financial Services Company for Administrative, Financial and Economic Consultations, International Islamic Authority, the General Secretariat of Endowments, Diyar Al Kuwait and a number of individual shareholders, with a 99.29% quorum.
The AGM accepted the resignation of 3 members of the Board of Directors: Walid Al-Thaqib, Khaled Karam, and a member representing Diyar Al-Kuwait Real Estate Company.
Shareholders, who hold a stake of 40.113% in the Company stated that, pursuant to Article (188) of Law No. 1 of 2016 states that “Every shareholder, whether a natural or legal person, may appoint representatives on the company’s board of directors, pro-rata to their shares. Shareholders who are represented on the Board of Directors may not participate with the other shareholders in the election of the remaining members of board members except within the remaining available limits for the appointment of their representatives.” Accordingly, the AGM elected the General Authority for Minors Affairs. And Diyar Al-Kuwait Company by 59.17%, and the independent member, Mohammad Yousef Al-Takmah, by 59.17%.
It is worth mentioning that “Reem” shares were delisted from Boursa Kuwait on 5 July 2022. On Thursday, 7 July 2022, Boursa Kuwait announced on its official website the registration of Reem Real Estate Company (Reem) on the OTC platform, to be traded on the (HYBRID Market) using symbol "242".