Disclosure of the Results of the General Assembly Meeting for the Year Ended December 31, 2023
The Ordinary General Assembly of The Securities House Company held its meeting on Thursday, May 23, 2024, at 11:00 AM in the meeting hall of Al Dhow Tower, Sharq area, attended by:
- The company’s auditor, Mr. Bader Al-Wazzan from Deloitte & Touche.
- The company’s external Sharia auditor, Mr. Omar Haj Ali Salem from Osol Sharia Consulting Company.
- The company’s Fatwa and Sharia Supervisory Board member, Mr. Abdul Salam Saeed Abdallah from Islamic Financial Industry House Company.
- The total percentage of shareholders present (both electronically and in person) was 55.736%. The meeting was chaired by Mr. Abdullatif Mohammed Alshaya, Chairman of the Board, who welcomed the attendees. The items on the agenda were discussed and approved as follows:
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Agenda of the Ordinary General Assembly: |
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01. |
The Board of Directors' report for the fiscal year ended December 31, 2023, was discussed, and approved. |
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02. |
The governance report and the audit committee report for the fiscal year ended December 31, 2023, were presented, and approved. |
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03. |
The report detailing financial and non-financial penalties imposed on the company by regulatory authorities during the fiscal year ended December 31, 2023, was reviewed, and approved. |
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04. |
The Fatwa and Sharia Supervisory Board's report for the fiscal year ended December 31, 2023, was presented, and approved. |
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05. |
The report of the company's external Sharia auditor for the fiscal year ended December 31, 2023, was presented, and approved. |
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06. |
The auditor's report for the fiscal year ended December 31, 2023, was presented, and approved. |
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07. |
The company's financial statements for the fiscal year ended December 31, 2023, were approved and ratified. |
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08. |
The Board of Directors' recommendation not to distribute dividends for the fiscal year ended December 31, 2023, was approved. |
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09. |
The Board of Directors' recommendation to allocate 10% to the legal reserve, amounting to KD 56,671, for the fiscal year ended December 31, 2023, was approved. |
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10. |
The report on transactions conducted or to be conducted with related parties was reviewed and approved. |
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11. |
The Board of Directors' recommendation not to distribute bonuses to Board members for the fiscal year ended December 31, 2023, was approved. |
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12. |
Board members were absolved of any financial, administrative, or legal liabilities pertaining to their actions during the fiscal year ended December 31, 2023. |
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13. |
Approval was granted to renew the authorization of the Board of Directors to buy or sell company shares, not exceeding 10% of its total shares, in accordance with Law No. 7 of 2010 and its executive regulations, as amended. |
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14. |
Approval was given for the reappointment of Mr. Badr Abdullah Al-Wazzan from Deloitte & Touche Al-Wazzan and Partners as the company's auditor for the fiscal year ended December 31, 2024, and authorizing the Board of Directors to determine their remuneration. |
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15. |
Reappointment of Osol Sharia Consulting Company as the external Sharia auditor for the fiscal year ended December 31, 2024, and authorizing of the Board of Directors to determine their fees, was approved. |
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16. |
Reappointment of Islamic Financial Industry House Company as the Fatwa and Sharia Supervisory Board for the company for the fiscal year ended December 31, 2024, and authorizing of the Board of Directors to determine their fees, was approved. |
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17. |
Resignation of Board members was approved. |
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18. |
Election of Board members for the upcoming three years was conducted as follows:
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Furthermore, the meeting concluded at precisely twelve noon. |
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Secondly: Agenda of the Extraordinary General Assembly The Extraordinary General Assembly was postponed due to the lack of a quorum. The rescheduled meeting will take place on Thursday, May 30, 2024, at the same time and location as the previous meeting.
There is no financial impact on the company's financial position.
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