Date

:

23-03-2022

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The Ordinary and Extraordinary General Assembly Meeting of Al-Imtiaz Investment Group Company was held today, Wednesday 23/03/2022, at 10:30 AM in the meeting hall of Al-Dhow Tower located in Kuwait City - Sharq - Khaled Bin Al-Waleed Street.

Where it approved and agreed on all the items on the agenda, including:

Ordinary General Assembly Meeting Major Decisions:

1. Approved the consolidated financial statements of the Company and the profit and loss account for the financial year ended 31/12/2021.

2. Approved the Board of Directors’ recommendation to distribute cash dividends of 9% of the nominal value of the share at the rate of (9) fils for each share for the fiscal year ended 31/12/2021 for the shareholders registered in the company’s records at the end of the record date specified on 13/04/2022 , provided that the distribution of cash dividends to shareholders will begin on 21/04/2022, and the Board of Directors is authorized to amend this schedule in the event that it is not possible to announce its confirmation at least 8 working days before the record date.

3. Approved the Board of Directors recommendation not to pay remuneration to the members of the Board of Directors for the fiscal year ended 31/12/2021.

4. Reappointment of Dr. Shuaib Abdullah Shuaib from Al-Bazie' and Partners Office (RSM) and Mr. Qais Mohammed Al-Nisf from Al Nisf & Partners Office (BDO) as the Company auditors for the fiscal year ending on 31/12/2022.

5. Two members of the Board of Directors (one of them independent) were elected to complete the remaining Board of Director session which ends on 31/12/2022, and they are:

• Mr. Tareq Ibrahim Al Mansour.

• Mr. Fahad Salah Al Essa (Independent).

 

The resolution of Extraordinary General Assembly Meeting was as follows:

1. Approved the amendment of Article (16) and Article (19) of the Company's Article of Association according to the formula listed on EGM agenda.