Kuwaiti Indian Holding Company will hold its Annual General Meeting (AGM) for the financial year ended 31 December 2021, on Tuesday, 14 June 2022, to discuss the board of directors’ report and the auditor’s report for the financial year 2021, in addition to the Fatwa and Shariah Supervisory Board’s report on the company’s business activities in 2021.
The AGM will also discusses the company's financial statements for the financial year ended 31 December 2021, and two violations reports issued by the regulatory authorities for which penalties were imposed on the company, in addition to related parties transactions report on the transactions that took place with related parties for the financial year 2021, as well as the transactions that will take place with related parties in the financial year 2022. The AGM will discuss the Board of Directors’ recommendation to allocate KWD 203,553 towards the statutory reserve and deduct 10% of the net profits towards the voluntary reserve account, as well as approving the payment of remunerations to board members for an aggregate amount of KWD 23,000 for the financial year ended 31 December 2021.
Other items listed on the AGM agenda include seeking approval for the Board of Directors’ recommendation  to distribute 5% cash dividends for the financial year ended 31 December 2021 i.e. (5 fils for each share), at an aggregate amount of KWD 105,000 for shareholders registered in the company’s records on the AGM date. Absolve board members from all matters related to their legal, financial, and administrative actions for the financial year ended 31 December 2021, elect new board members for the next three years, and appoint or reappoint the Fatwa and Shariah Supervisory Board and the company’s auditor for the financial year ended 31 December 2021, and authorize the Board of Directors to determine their fees.