Kuwaiti Indian Holding Company will hold its Annual General Meeting (AGM) on Thursday, 11 May 2023 at the headquarters of Noor Financial Investment Company, to discuss the Board of Directors’ recommendation to distribute 5% cash dividend, i.e., 5 fils per share, for an aggregate amount of KWD 105,000, to shareholders registered in the company’s records as of the AGM date. 

The AGM will also discuss the Board of Directors’ report, the auditor’s report, and Fatwa and Sharia Supervision Board’s report, in addition to the report issued on the violations cited on the company’s activities for the financial year ended 31 December 2022 (if any).

Moreover, the AGM will discuss and approve the company’s s financial statement for the financial year ended 31 December 2022, the related parties’ transactions report for FY2022, as well as transactions that will take place with related parties during the financial year 2023. It will also discuss the Board of Directors' recommendation not to deduct 10% of the net profits towards the legal reserve, and to deduct 10% of the net profits towards the voluntary reserve.

The AGM agenda items include approving to pay KWD 23,000 in renumerations to board members for the financial year ended 31 December 2022, absolving board members from all matters related to their legal, financial, and administrative actions for the financial year ended 31 December 2022, and  appointing or reappointing the company's auditor and the Fatwa and Sharia Supervision Board for the financial year ending 31 December 2023, as well as authorizing the Board of Directors to determine their fees.

The Company advised shareholders that in the event that the quorum was not met, the postponed meeting will be held on Thursday,18 May 2023, at 10:00 am, at the same venue to discuss the same agenda.