The Ordinary General Assembly Meeting of The Securities House Company was held on Thursday, 22 May 2025 at 11:00 AM, in the meeting hall at Al-Dhow Tower, Sharq. The meeting was attended by the following:
1.Mr. Bader Al Wazzan, External Auditor from Deloitte & Touche.
2.Dr. Mohammad Al Sharafa, Sharia External Auditor from Osol for Sharia Advisory and Audit.
3.Mr. Abdul Salam Saeed Abdallah the Company’s Fatwa and Sharia Supervisory Board member from Islamic Financial Industry House Company.
The total percentage of shareholders present (in person and electronically) was 59.646%. The meeting was chaired by Mr. Abdulatif Mohammed Al Shaya, Chairman of the Board, who welcomed the attendees. The agenda items were discussed and approved as follows:
Agenda of the Ordinary General Assembly
1. The Board of Directors’ report for the fiscal year ended 31 December 2024 was discussed and approved.
2. The Corporate Governance Report and the Audit Committee Report for the fiscal year ended 31 December 2024 were reviewed and approved.
3. The statement of financial and non-financial penalties imposed on the Company by regulatory authorities during the fiscal year ended 31 December 2024 was presented and approved.
4. The Sharia Supervisory Board Report for the fiscal year ended 31 December 2024 was reviewed and approved.
5. The report of the Company’s External Sharia Auditor for the fiscal year ended 31 December 2024 was reviewed and approved.
6. The Auditor’s Report for the fiscal year ended 31 December 2024 was reviewed and approved.
7. The Company’s financial statements for the fiscal year ended 31 December 2024 were approved.
8. The recommendation of the Board of Directors not to distribute dividends for the fiscal year ended 31 December 2024 was approved.
9. The recommendation of the Board of Directors to allocate 10% to the statutory reserve, amounting to KWD 156,121 for the fiscal year ended 31 December 2024, was approved.
10. The report on related party transactions conducted or to be conducted was reviewed and approved.
11. The recommendation of the Board of Directors not to grant any remuneration to Board members for the fiscal year ended 31 December 2024 was approved.
12. The Board members were discharged from liability for their financial, administrative, and legal actions for the fiscal year ended 31 December 2024.
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. The reappointment of Mr. Bader Abdullah Al Wazzan from Deloitte & Touche Al Wazzan & Co. as the Company’s auditor for the fiscal year ending 31 December 2025 was approved, with authorization granted to the Board of Directors to determine his fees.
15. The reappointment of Osol for Sharia Advisory and Audit as the External Sharia Auditor for the fiscal year ending 31 December 2025 was approved, with authorization granted to the Board of Directors to determine their fees.
16. The reappointment of Islamic Financial Industry House Company as the Sharia Supervisory Board for the fiscal year ending 31 December 2025 was approved, with authorization granted to the Board of Directors to determine their fees.
-The meeting concluded at 12:00 PM.
-Impact of this material information on the Company’s financial position:
There is no impact on the Company’s financial position.
