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Invitation To Attend The Ordinary General Assembly Meeting for Year 2015

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 19/5/2016 at Salhia Hall – First Floor – J. W. Marriott Kuwait Hotel.

Agenda of ordinary general assembly For the fiscal year ended on 31st December 2015:

1. To listen to board of directors' report for the fiscal year ended on 31st December 2015 and approve it.
2. To listen to the report of the auditor for the fiscal year ended on 31st December 2015 and approve it.
3. To discuss the financial statements for the fiscal year ended on 31st December 2015 and approve them.
4. To inform the general assembly of the company's shareholders on the penalties and fines applied to the company by the regulatory bodies for the fiscal year ended on 31st December 2015, if any.
5. To approve the board of directors' recommendation not to distribute dividends to the shareholder for the fiscal year ended on 31st December 2015.
6. To approve the board of directors' recommendation not to distribute remunerations to the members of board of directors for the fiscal year ended on 31st December 2015.
7. To approve the transfer of 10% (ten percent) of the year's distributable profit to the statuary reserve amounting KD 444,132 (Kuwaiti Dinars four hundred forty four thousand, one hundred thirty two only)
8. To approve the transfer of 10% (ten percent) of the year's distributable profit to the voluntary reserve amounting KD 444,132 (Kuwaiti Dinars four hundred forty four thousand, one hundred thirty two only)
9. To authorize the board of directors to buy and sell the company's shares at no more than 10% of its shares in accordance to the articles of law no. 7 of 2010 and its executive bylaws as amended.
10.  To approve the company's transactions with related parties for the fiscal year ended on 31st December 2015 and authorize the board of directors to deal with related parties.
11. To release and discharge the members of board of directors with respect to their financial and legal acts for the fiscal year ended on 31st December 2015.
12. To appoint or reappoint the company's auditors for the fiscal year ended on 31st December 2016 and authorize the board of directors to determine their fees.

 

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