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Invitation To Attend The Ordinary General Assembly Meeting for Year 2016

The Board of Directors of Kuwait Real Estate Company (K.S.C) (AQARAT) is pleased to invite the honorable shareholders to attend the Company’s Ordinary General Assembly Meeting, to be held at exactly 11:00 am. on Thursday 11/5/2017 at Salhia Hall – First Floor – J. W. Marriott Kuwait Hotel.

Agenda of ordinary general assembly For the fiscal year ended on 31st December 2016:

1. Listening to and approving the report of the Board of Directors for the financial year ended 31 December 2016.
2. Listening to the governance report and the Audit Committee report for the financial year ended 31 December 2016.
3. Listing to and approving the Auditor’s report for the financial year ended 31 December 2016.
4. Discussing and approving the financial statements for the financial year ended 31 December 2016.
5. Listening to the violations and excesses report issued by the supervisory authorities or to the violations for which it had issued penalties against the company for the financial year ended 31 December 2016 (if any).
6. Approving the recommendation of the Board of Directors not to distribute any dividends to shareholders for the financial year ended 31 December 2016.
7. Approving the recommendation of the Board of Directors not to pay any remunerationfor the Board members for the financial year ended 31 December 2016.
8. Approving the transfer of 10% (ten percent) of the profit for the year for distribution to the statutory reserve of KD 501,624 (five hundred and one thousand six hundred and twenty four Kuwaiti Dinars).
9. Approving the transfer of 10% (ten percent) of the profit for the year for distribution to the voluntary reserve of KD 501,624 (five hundred and one thousand six hundred and twenty four Kuwaiti Dinars).
10.  Delegating the Board of Directors to buy or sell the Company's shares not to exceed 10% of the number of its shares in accordance with the provisions of Law No. (7) of 2010, its Executive Regulations and their amendments.
11. Approving the Company's transactions with relevant parties during the financial year ended 31 December 2016 and delegating the Board of Directors to deal with relevant parties.
12.  Releasing and discharging the members of the Board of Directors in respect of their financial and legal actions for the financial year ended 31 December 2016.
13. Appointing or reappointing the auditor within the approved list of auditors at the Capital Markets Authority, subject to the mandatory change period, for the financial year ended 31 December 2017, and delegating the Board of Directors to determine his fees.