United Agricultural Production Company will hold its Annual General Meeting (AGM) on Wednesday, 7 June 2023, to discuss the financial statement for the financial year ended 31 December 2022, and the Board of Directors’ recommendation to distribute 265% (265 fils) per share cash dividend for the financial period ended 31 December 2022, for an aggregate amount of KWD 1,178,689.750, for 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, the violations and penalties report issued by the regulatory authorities, and the transactions that took place or will take place with related parties.  Additionally, there will be a vote on the recommendation put forth by the Board of Directors, proposing not to deduct 10% of the net profits for the year as contributions to the statutory and voluntary reserves for the financial year ending on December 31, 2023.

Furthermore, the AGM will address the topics of allocating 1% of the company's net profits to charitable organizations and institutions, as well as granting the board of directors the authority to sell or mortgage the company's real estate properties, provide guarantees, or enter into loan agreements as deemed necessary for the company's interests.

In addition, the AGM will address several other important matters, including the distribution of remuneration to the members of the Board of Directors, amounting to KWD 15,000. There will also be discussions regarding the release and discharge of the Board members from any liability pertaining to their legal, financial, and administrative actions during the financial year ended 31 December 2022. The appointment or reappointment of the auditor will also be considered, along with the delegation of management authority to the Board of Directors, including the determination of their fees for the financial year ending 31 December 2023.