The Board of Directors of the OTC 89 Contracting & Marine Services Company  (CMA) has called upon its shareholders to attend the ordinary General Assembly scheduled for Monday, May 19, 2025, at 11:00 AM at its headquarters, to discuss several agenda items related to the financial year ending December 31, 2024.

The agenda includes listening to the Board of Directors’ report, along with the auditors' report, and discussing and approving the company’s financial statements for the fiscal year ending December 31, 2024, as well as ratifying them.

The assembly will also hear reports of violations and penalties issued by regulatory bodies—if any—along with the transactions that have been or will be made with related parties.

Among the financial items, the assembly will consider the approval of allocating 10% of the 2024 profit for legal reserves and will discuss the Board of Directors’ recommendation not to allocate 10% of the net profit for optional reserves for the year 2024.

Additionally, they will review the Board's recommendation to distribute cash dividends for the fiscal year ending in 2024 at a rate of 5% of the capital (i.e., 5 Fils per share), amounting to a total of KWD 1,143,310.260 (only one million one hundred forty-three thousand three hundred ten Kuwaiti Dinars and two hundred sixty Fils), after deducting treasury shares, for shareholders registered in the company’s records as of the assembly meeting date. This recommendation is subject to the approval of the General Assembly and the relevant regulatory authorities.

The agenda will also include considering the Board of Directors' recommendation not granting bonuses to its members for the concluded fiscal year, along with discussing the authorization for the board to buy or sell up to 10% of the company’s shares, in accordance with the provisions of Law No. 7 of 2010 and its executive regulations and any amendments.

The assembly will also discuss the exoneration of board members from all their legal, financial, and administrative actions over the past year, along with discussing the appointment or reappointment of the auditor for the fiscal year 2025 and delegating the board to determine their fees.

The assembly will conclude with the election of a new Board of Directors to undertake its duties during the next three fiscal years (2025 / 2026 / 2027).