Annual General Meeting Results

The following items of the agenda have been approved:

1. The minutes of the previous meeting held on 3rd April 2022.
2. The Board of Directors’ report on the Group’s business activities for the year ended 31 December 2022.
3. The Sharia Supervisory Board’s report on the Group’s business activities for the year ended 31 December 2022.
4. The external auditor’s report on the financial year ended 31 December 2022.
5. The consolidated financial statements for the financial year ended 31 December 2022.
6. The Board of Directors’ recommendation to allocate the net profit of the year 2022 as follows:
   1. To carry forward an amount of US$9,025,300 to the statutory reserve.
   2. To allocate an amount of US$1,000,000 for charity, civil society institutions and Zakat fund.
   3. To distribute cash dividends of 6% of the nominal value of all the ordinary shares, save for treasury shares, (US$0.0159 per share, BD0.0060, UAE dirhams 0.05840).
   4. To transfer an amount of US$ 23,966,615 to retained earnings.
7. The Board’s recommendation to allocate an amount of US$ 1.2 million as remuneration for members of the Board of Directors.
8. The corporate governance report for the financial year ended 31 December 2022, including the Group’s compliance with all the governance requirements issued from the Ministry of Industry, Commerce and Tourism and the Central Bank of Bahrain.
9. Transactions concluded during the ended year with any related parties or major shareholders of the Group, as indicated in Note 24 of the financial statements for the year 2022 and the Board of Directors’ Report, pursuant to the provisions of Article (189) of Bahrain’s Commercial Companies Law.
10. Release the members of the Board from liability in respect of their acts for the financial year ended 31 December 2022.
11. The re-appointment of the external auditors of the Group for the year ended 31 December 2023 and authorize the Board of Directors to fix their fees.
12. The appointment of Mr. Yousef Abdulla Taqi as a complementary independent director of the Group’s Board of Directors in its term.
13. The appointment of Market Maker(s) in any or all markets in which the Group’s shares are listed subject to the approval of the regulatory authorities, and authrize the Group’s Board of Directors to determine the market maker(s), the duration of the contract and other relevant details to take appropriate decisions.
14. Any recent issues in accordance with Article (207) of the Commercial Companies Law.