The Board of Directors of AlRazzi Holding Company has invited the company's shareholders to attend its ordinary general assembly for the fiscal year ending September 30, 2024. The assembly is scheduled to be held on Wednesday, December 11, 2024, at 10:30 AM.
During the meeting, shareholders will discuss the approval of the Board’s recommendation to distribute a cash dividend of 12% of the nominal value of each share (equivalent to 12 Fils per share), totaling 4,814,400 KWD (four million, eight hundred fourteen thousand, four hundred Kuwaiti Dinars) for shareholders registered in the company's records as of the date of the general assembly.
Additionally, several other items on the agenda will be reviewed, including:
• Listening to the Board of Directors' report on the company's activities for the fiscal year ending September 30, 2024, and approving it.
• Reviewing and approving the auditor's report for the year ending September 30, 2024.
• Discussing and approving the company’s consolidated financial statements for the fiscal year ending September 30, 2024.
• Hearing a report on any violations imposed on the company by regulatory authorities for the fiscal year ending September 30, 2024 (if applicable).
• Reviewing and approving the Shariah supervision report for the fiscal year ending September 30, 2024.
• Hearing a report on transactions conducted with related parties during the fiscal year ending September 30, 2025, and approving it.
• Discussing the Board of Directors' proposal to distribute bonuses to members of the Board amounting to 60,000 KWD (sixty thousand Kuwaiti Dinars) for the fiscal year ending September 30, 2024.
• Discussing the Board's recommendation to allocate a sum of 950,655 KWD (nine hundred fifty thousand, six hundred fifty-five Kuwaiti Dinars) as 10% of the net profits for the fiscal year ending September 30, 2024, to the mandatory legal reserve.
• Discussing the release of the Board members from liability for their legal, financial, and administrative conduct concerning the management of the company for the fiscal year ending September 30, 2024.
• Appointing or reappointing the company’s auditor for the fiscal year ending September 30, 2025, and authorizing the management to determine their fees.