Tawazun Holding Company will hold its Annual General Meeting (AGM) for the financial year ended 31 December 2022 on Monday, 22 May 2023, to discuss the Board of Directors’ recommendation to discuss and approved the distribution of (2.35 fils) per share for an aggregate amount of KWD 1.6 million in cash dividends for the financial year ended 31 December 2022. The AGM will also discuss and approve the reports issued by the Board of Directors, the company’s auditor, and Sharia Supervisory Board for the financial year ended 31 December 2022.

The AGM will also hear the violations report and any penalties issued by the regulatory authorities, as well as the transactions that have taken place or will take place with related parties.

Moreover, the company’s AGM will discuss the financial statements for the financial year ended 31 December 2022, and discuss approved the deduction of 10% of the net profits in 2022 towards the statutory reserve, i.e., KWD 182,693. The AGM will also discuss not paying renumerations to board members  and absolving them from all responsibilities related to their legal, financial and administrative actions for the financial year ended 31 December 2022.

AGM agenda items also include the appointment or re-appointment of the auditor and the Sharia Supervisory Board for the financial year ending 31 December 2023, authorizing the Board of Directors to determine their fees, accepting the resignation of the Commercial Bank of Kuwait’s representative on the Board of Directors, and electing a new board member.