Kuwait Medical Services Company OTC 269 will hold its Ordinary Annual General meeting on Tuesday, September 3, 2024, to discuss the company's financial statements for the fiscal year ending on 31/3/2024. 

Note that if the quorum is not met, the postponed assembly will be held on 10/9/2024 at the same place and time.
The agenda of the general assembly will include the following items:

1-    Hearing the Board of Directors' report on the fiscal year ending on 31/3/2024 and approving it
2-     Hearing the auditor's report on the fiscal year ending on 31/3/2024 and approving it.
3-    Discussing and approving the company's financial statements for the fiscal year ending on 31/3/2024. 
4-    Hearing a report on violations and penalties issued by the regulatory authorities (if any) for the year ending 03/31/2024.
5-     Hearing a report on transactions with other related parties that have taken place and will take place.
6-    Discussing the Board of Directors' proposal not to distribute profits to the company's shareholders for the fiscal year ending 03/31/2024.
7-    Discussing the Board of Directors' proposal not to distribute a bonus to the Board of Directors for the fiscal year ending 03/31/2024.
8-    Discussing the release of the Board of Directors and their discharge from all matters related to their financial, legal and administrative actions for the fiscal year ending 03/31/2024
9-     Appointing or reappointing the company's auditor for the fiscal year ending 03/31/2025 and authorizing the Board of Directors to determine his fees.

The Board of Directors’ report revealed that the company’s activities include providing medical care in hospitals and outpatient clinics, trading in medicines, establishing health centers, hospitals, clinics, sanatoriums, rehabilitation centers, pharmacies, laboratories, and medical facilities, and investing in or operating them, in addition to providing medical research. 

Based on the above, the Board of Directors decided to utilize the company’s resources and start operating the “International Hospital “ to serve a wild base of the population, noting that all medical and governmental licenses for the hospital have been obtained. 

The report also disclosed the company's most important financial indicators, as the value of total assets amounted to 33,332,107 dinars, on 31/3/2024, compared to 30,779,888 dinars for the same period of the previous year, an increase of 8.29%, while the value of the company's total liabilities amounted to 27,249,141 dinars and the value of the company's total equity amounted to 6,082,966 Kuwaiti dinars. 

The company also incurred net losses of 1,282,610 dinars for the fiscal year ending on 31/3/2024.