AlWaseet Financial Business has invited its shareholders to attend its ordinary general assembly for the fiscal year ending December 31, 2024, which will be held at its headquarters on Sunday, May 11, 2025, at 1:00 PM.
Attendance and voting will be available electronically only, in accordance with the policies and procedures guide for the "eAGM" system issued by the Kuwait Clearing Company.
The following items are listed on the agenda for discussion:
• Discuss and approve the Board of Directors' report on the company's activities, financial position, and results for the fiscal year ending December 31, 2024.
• Discuss and approve the report from the company's external auditor for the fiscal year ending December 31, 2024.
• Discuss and approve the financial statements for the fiscal year ending December 31, 2024.
• Read and approve both the Governance Report and the Audit Committee Report for the fiscal year ending December 31, 2024.
• Review any violations detected by regulatory authorities, and any penalties imposed because of those violations, which may have resulted in financial and non-financial sanctions against the company (if any).
• Deduct 10% of the net profits for the mandatory legal reserve of the company, amounting to KWD 273,053.
• Approve the Board of Directors' recommendation not to grant bonuses to members of the Board of Directors for the fiscal year ending December 31, 2024.
• Discuss the Board of Directors' recommendation not to distribute dividends to the company's shareholders for the fiscal year ending December 31, 2024.
• Review transactions with related parties that have occurred or will occur.
• Discuss and approve the release of the Board members from liability concerning all legal, administrative, and financial matters related to the company's activities during the fiscal year ending December 31, 2024.
• Discuss the approval of granting permission to the Chairman of the Board or any Board member to serve on the board of two competing companies or to engage in any business that would compete with the company or trade on their own or others' behalf in any of the activities carried out by the company for the year 2025.
• Discuss the approval of granting permission for anyone represented on the board, the chairman, any board member, or any executive management member, as well as their spouses or second-degree relatives, to have a direct or indirect interest in contracts and transactions concluded with the company or on its behalf for the year 2025.
• Appoint or reappoint the company's auditor for the fiscal year ending December 31, 2025, from the approved list of auditors registered with the Capital Markets Authority, considering the mandatory rotation period for auditors, and authorize the Board of Directors to determine their fees.