The Ordinary General Assembly of The Securities House Company held its meeting on Thursday, May 18, 2023 at 11:00 a.m , located in Al Dhow Tower – Sharq, in the presence of:
The company's auditor, Mr. Ali Bader Al-Wazzan from Deloitte & Tosh
-The external Sharia auditor Mr. Omar Haj Ali Salem from Osool Sharia Consulting Company.
-Fatwa and Sharia Supervisory Board of the company Mr. Abdulsalam Saeed Abdullah from Islamic Industry House Company .
The percentage of shareholders present was 60.609%. The meeting was chaired by Mr. Ibrahim Yousef Alghanim, Chairman of the Board of Directors, where he welcomed the attendees, the agenda were discussed and approved, as follows:
1.To discuss and approve the Board of Directors' report for the financial year ended 31 December 2022.
2.The Corporate Governance Report and the Audit Committee's Report for the financial year ended 31 December 2022 were heard and approved.
3.Review and approve the statement of financial and non-financial sanctions signed on the company by the regulatory authorities during the fiscal year ended 31 December 2022.
4.The Fatwa and Shari'a Supervisory Board's report for the financial year ended 31 December 2022 was heard and approved.
5.The report of the Company's External Sharia Audit Office for the financial year ended 31 December 2022 was heard and approved.
6.The auditor's report for the financial year ended 31 December 2022 was heard and approved.
7.The Company's financial statements for the financial year ended 31 December 2022 have been approved and approved.
8.Approved the Board of Directors' recommendation not to distribute dividends for the financial year ended 31 December 2022.
9.Approved the Board of Directors' recommendation to deduct 10% and transfer it to the statutory reserve in the amount of KD 245,262 for the financial year ended 31 December 2022.
10. Review and approve the report of transactions that have taken place or will take place with related parties.
11. Based on a proposal submitted by one of the attendees in his capacity as a representative of a group of shareholders with a total share of 7,231,986 shares and a total percentage of attendance representing 2.91%, 99.68% of the attendees approved the payment of a remuneration to the members of the Board of Directors of KD 25,000 for the financial year ended 31 December 2022.
12. The members of the Board of Directors have been discharged from liability in all matters related to their financial, administrative, and legal actions for the financial year ended on December 31, 2022.
13. Approved the renewal of the Board of Directors' authorization to buy or sell the company's shares not exceeding 10% of the number of its shares, in accordance with the articles of Law No. 7 of 2010 and its executive regulations and their amendments.
14. Approved the appointment of Mr. Bader Abdullah AlWazzan from Deloitte & Touche AlWazzan & Co. as the auditor for the financial year ended 31 December 2023 and authorized the Board of Directors to determine his fees.
15. Approved the reappointment of Osool Sharia Consulting Company as an external Sharia auditor for the financial year ended 31 December 2023 and authorizing the Board of Directors to determine their fees.
16. Approved the reappointment of Messrs. House of Islamic Financial Industry Company, the Fatwa and Shari'a Supervisory Board of the Company for the financial year ended 31 December 2023 and authorizing the Board of Directors to determine their fees.
Second: Agenda of the Extraordinary General Assembly
The Extraordinary General Assembly was postponed due to the lack of quorum, provided that the postponed General Assembly meeting will be held on Thursday, May 25, 2023 at the same date and place as the previous meeting.
