Board of Directors Had Convened on 18 March 2018

The Board of Directors had convened on Sunday 18th March 2018 at 1:00 pm and decided the following:

  1. To approve the financial statements for the financial year ended 31 December 2017.
  2. To recommend to the shareholders ordinary general meeting not to distribute dividends for the financial year ended 31 December 2017.
  3. To recommend to the shareholders extraordinary general meeting to approve a capital reduction from KD 48,000,000 to KD 45,000,000 through cancellation of 30,000,000 shares in its nominal value, representing 6.25% of paid-up capital against cash payment of KD 3,000,000 to the shareholders listed in the company's register at the due date.

Note:  The third item of the Board of Directors' decisions is subject to the prior approval of the regulatory authorities before being presented to the company's shareholders in the extraordinary general meeting.