EFG Hermes IFA Brokerage Company has announced an invitation to its shareholders to attend the upcoming Ordinary General Assembly meeting for the fiscal year ending December 31, 2024. The meeting is scheduled for Sunday, May 25, 2025, at the company’s headquarters.

Key-agenda items include the review of the Board of Directors’ report on the company’s activities and financial position, the auditor’s report on the financial statements, the reading of the governance and audit committee reports for the fiscal year, and the discussion and approval of the company’s financial statements.

The meeting will also address any violations or penalties issued by regulatory authorities, if applicable.

Additionally, the agenda includes discussion and approval of the Board’s recommendation not to distribute cash dividends to shareholders for the 2024 fiscal year.

The Board is also proposing to allocate 10% of net profits—amounting to KWD 72,239—as a statutory reserve, while suspending contributions to the voluntary reserve.

The meeting will consider approving a reward of KWD 4,000 for each board member, totaling KWD 32,000.

The assembly will also review and approve the report on related party transactions for the fiscal year, authorize the Board to conduct related party transactions during 2025, and address the discharge of board members from any financial, legal, or administrative liabilities.

Lastly, the appointment or reappointment of the auditor for 2025 will be discussed, provided they are accredited by the Capital Markets Authority, in compliance with mandatory auditor rotation rules, and the Board will be authorized to determine the auditor’s fees.