Dimah Capital Investment Company has invited its shareholders to attend its ordinary general assembly scheduled for Wednesday, May 7, 2025, to discuss the Board of Directors' report on the company's activities, financial position, and results.
The assembly will also review the auditor's report and the consolidated financial statements and profit and loss accounts for the fiscal year ending December 31, 2024, and approve them.
Additionally, the governance report and the Audit Committee's report for the fiscal year ending December 31, 2024, will be read, along with the external Sharia audit office report and the Fatwa and Sharia Supervisory Board's report on the company's operations for the fiscal year ending December 31, 2024, which will also be submitted for approval.
The assembly will also review the violations and penalties identified by regulatory authorities, any sanctions issued because of those violations, and any financial and non-financial penalties imposed on the company.
The Board will recommend not distributing dividends to shareholders, not granting bonuses to Board members, and not allocating amounts for statutory reserves and optional reserves for the fiscal year ending December 31, 2024.
Furthermore, the assembly will review the report on transactions with related parties conducted during the fiscal year ending December 31, 2024, and approve it, as well as authorize the Board to conduct transactions with related parties for the fiscal year ending December 31, 2025, and beyond, until the annual general assembly for that fiscal year convenes.
It will also approve delegating authority to the Board to deal with local and foreign banks, financial and investment institutions for financing the company’s operations according to its objectives, and the signing and disclosure of necessary documents and agreements.
Additionally, the Board will be authorized to issue bonds in Kuwaiti Dinars or any other currency deemed suitable, without exceeding the legally authorized limit or its equivalent in foreign currencies, allowing the Board to determine the type, duration, nominal value, yield, and repayment terms of these bonds, subject to the approval of the relevant regulatory authorities.
The Fatwa and Sharia Supervisory Board’s report on calculating Zakat will also be presented, with the amount of KWD 48,488.123 (forty-eight thousand four hundred eighty-eight dinars and one hundred twenty-three Fils) to be paid as Zakat for the fiscal year ending December 31, 2024, with the Board being authorized to manage this amount and determine its distribution under the supervision of the Fatwa and Sharia Supervisory Board.
The Board will also be authorized to manage the purification funds and determine their distribution under the supervision of the Fatwa and Sharia Supervisory Board. Moreover, the assembly will approve the release of Board members from any liability related to their legal, financial, and administrative actions during the fiscal year ending December 31, 2024.
The assembly will appoint the company’s auditor for the fiscal year from the approved list by the Capital Markets Authority for the fiscal year ending December 31, 2025, taking into consideration the mandatory change period for company auditors, and will authorize the Board to determine their fees.
It will also appoint or reappoint members of the Fatwa and Sharia Supervisory Board for the fiscal year ending December 31, 2025, giving the Board authority to determine their fees, and appoint or reappoint the external Sharia audit office from the approved list by the Capital Markets Authority for the fiscal year ending December 31, 2025, with respect to the mandatory change duration for the licensed external Sharia auditing office, granting the Board authority to determine their fees.