The board of directors of AL Mutajara Real Estate Company has invited its shareholders to attend its ordinary general assembly for the fiscal year ending December 31, 2024, scheduled for Wednesday, April 16, 2025, at 11:00 AM. 

The agenda will include hearing the board of directors' report and the auditor's report from Deloitte & Touche Al-Wazzan & Partners for the fiscal year ending December 31, 2024, and approving both reports. Additionally, the assembly will address any violations noted by regulatory authorities or any penalties imposed during 2024 (if any) and present the report from the Shari’a supervisory board of Consultation and Al-Raya Advisory for Islamic financial consulting.

Other important items on the agenda include discussing and approving the financial statements and final accounts, as well as the board of directors' recommendation to distribute a cash dividend of 3.5% of the nominal value of the share (3.5 Fils per share) for the second half of 2024. It is noted that a cash dividend of 3.5% was also distributed for the first half of the period ending June 30, 2024, as per the board’s decision on August 12, 2024. 

The board is also authorized to implement the procedures for distributing dividends to shareholders either semi-annually and/or quarterly as deemed appropriate during the fiscal year 2025 and beyond, providing that it comes from actual profits according to accepted accounting principles and standards without affecting the company's paid capital.

The assembly will also discuss the mandatory reserve deduction of 10% from the net profits as of December 31, 2024, amounting to K.D. 445,936 (four hundred forty-five thousand and nine hundred thirty-six Kuwaiti Dinars only), and the optional reserve deduction of 5% from the net profits as of December 31, 2024, amounting to K.D. 222,968 (two hundred twenty-two thousand nine hundred sixty-eight Kuwaiti Dinars only) to meet future obligations and investments.

Additionally, the board's recommendation regarding the distribution of a reward for board members amounting to K.D. 16,000 (sixteen thousand Kuwaiti Dinars) for the fiscal year ending December 31, 2024, will be discussed, as well as reviewing the transactions conducted throughout the fiscal year 2024 and authorizing transactions with related parties for the fiscal year 2025.

It is worth noting that the board members will be discharged and absolved of any responsibilities related to their financial, administrative, and legal actions for the fiscal year ending December 31, 2024, and they will be permitted to hold dual memberships in the board of directors of Real Estate Trading Company and any of its parent and/or subsidiary and/or affiliate companies operating in the same business activity.

Finally, the assembly will discuss the approval of appointing or reappointing the company auditor and the approval of appointing or reappointing the Shari’a supervisory board for the fiscal year ending December 31, 2025, and authorizing the board of directors to determine their fees.