First Securities Brokerage Company (AlOula Wasata)  has invited its shareholders to attend its ordinary general assembly for the financial year ending December 31, 2024, scheduled to be held on Sunday, May 11, 2025. The meeting will take place via the electronic public assembly system. 

The agenda includes reading the governance report, which includes the report on the bonuses granted to members of the Board of Directors and executive management, as well as the external auditor's report for the financial year ending December 31, 2024, and approving both reports.

The assembly will also discuss the Board of Directors' report on the company's activities, financial position, and performance results, along with the external auditor's report on the company's financial statements. 

The assembly will consider and approve the audited consolidated financial statements and the final accounts for the year ending December 31, 2024.

Additionally, it will review transactions conducted with related parties during the financial year ending December 31, 2024, and grant approval for the company to engage directly or indirectly with related parties during the financial year ending December 31, 2025. 

The assembly will also examine any violations identified by regulatory authorities, as well as any penalties imposed because of those violations, resulting in financial and non-financial sanctions on the company for the financial year ending December 31, 2024 (if applicable).

Furthermore, the Board's recommendation not to distribute cash dividends to shareholders for the financial year ending December 31, 2024, will be discussed. The Board also recommends not granting bonuses to the Board members for the financial year ending December 31, 2024, except for the independent member, who will receive a bonus of KWD 5,000. 

The assembly will approve the payment of attendance fees to non-executive Board members and the independent member for both Board meetings and committee meetings for the financial year ending December 31, 2025.

Finally, the assembly will discuss approving the discharge of Board members and absolving them from any legal, financial, and administrative actions related to their conduct for the financial year ending December 31, 2024. 

The appointment/reappointment of the company’s auditor from the approved list of auditors registered with the Capital Markets Authority for the financial year ending December 31, 2025, will also be considered, while considering the mandatory rotation period for company auditors and authorizing the Board to set their fees.