OTC 98 Gulf Glass Manufacturing Company (GGMC) will hold its ordinary general assembly on Wednesday, April 16, 2025, at 12:00 PM at its headquarters.

The assembly will discuss the resignation of the current Board of Directors for the current term, which ends on May 29, 2025, and elect a new Board of Directors for the next three years (2025-2028).

It will also consider approving the Board's recommendation to distribute cash dividends at a rate of 10%, equivalent to 10 Fils per share, after deducting treasury shares, for shareholders recorded in the company's books on the date of the general assembly.

Additionally, the assembly will hear the Board of Directors' report and the auditors' report for the financial year ending December 31, 2024, and approve them. It will also address any violations noted by regulatory authorities and any penalties imposed on the company (if applicable), as well as review a report on transactions with related parties, whether completed or planned.

The assembly will discuss the consolidated financial statements for the year ending December 31, 2024, and approve them, along with the allocation for the legal reserve at a rate of 10%, totaling KWD 202,851.

The Board of Directors will be authorized to buy or sell the company's shares, not exceeding 10% of the total number of shares, in accordance with the provisions of Law No. 7 of 2010 and its executive regulations.

The Board will also be authorized to sell or mortgage the company’s properties or provide guarantees and enter loans as per Article 184 of Companies Law.

Moreover, it will discuss the distribution of a bonus to the Board members amounting to KWD 15,000 (fifteen thousand Kuwaiti Dinars) and grant releases to the Board members regarding their legal, financial, and administrative actions for the financial year ending December 31, 2024.

The assembly will also appoint or reappoint the company’s auditor for the financial year ending December 31, 2025, and authorize the Board to determine the auditor’s fees.