The Board of Directors of Tawazun Holding Co. has invited shareholders to attend the company’s Ordinary General Assembly Meeting for the fiscal year ended December 31, 2024. The meeting is scheduled to take place on Monday, June 16, 2025, at 11:00 AM, at the main conference hall of Aayan Leasing and Investment Company.
Key agenda items include the acceptance of the resignation of Al Ahli Bank of Kuwait from the Board of Directors and the election of a new board member.
The meeting will also cover several critical topics, including the review and approval of the company’s main reports for the fiscal year 2024, namely:
• The Board of Directors’ Report
• The Sharia Supervisory Board Report
• The Auditor’s Report (Abdulkarim Al-Samdan from Al Aiban, Al Osaimi & Partners – Ernst & Young)
• The report on violations and penalties issued by regulatory authorities
Shareholders will also review and approve the audited financial statements for the year and discuss the Board's recommendation to distribute a cash dividend of 7.74%, equivalent to 7.74 fils per share, totaling KWD 4,500,000 (Four million five hundred thousand Kuwaiti Dinars) to shareholders registered as of the meeting date.
Additional items on the agenda include:
• Approval of a 10% allocation from net profit to the statutory reserve (equivalent to KWD 313,042)
• Presentation of related party transactions conducted or planned
• Discharge of board members from financial, administrative, and legal liabilities for FY2024
• Approval not to distribute board remuneration for the same period
• Appointment or reappointment of the external auditor and the Sharia Supervisory Board for FY2025, with authorization for the Board to set their fees
• Approval for board members to hold directorships in competing or similar companies
• Authorization for the Board to distribute interim dividends (quarterly or semi-annually) for FY2025 from actual profits, in accordance with accepted accounting standards and without affecting paid-up capital.