| Announcements/Resolutions |
Agility Public Warehousing Company KSCP held its Ordinary General Assembly Meeting for the year ending 31st December 2020 on Wednesday May 5th 2021 through electronic means with a quorum of 66.253%. The assembly approved all the items on the agenda including: - The distribution of 10% cash dividends (10fils per share) and 10% bonus shares (10 shares for every 100 share) for the shareholders registered on the company’s registry as mentioned below. - Appointment of Mr. Waleed Al Osaimi from Ernst and Young Al Aiban, Al Osaimi Partners and Mr. Nayef Al Bazie from RSM Albazie and Co. Financial Auditors for the year ending December 31st2021. Distribution dates: Dubai Financial Market: Last entitlement date: 26 May 2021 Ex-Dividend date: 27 May 2021 Registry Closing date: 30 May 2021 Distribution:03 June 2021
Items on the Agenda:
- Approve the report of the Board of Directors for the Company's activities during the fiscal year ended on December 31, 2020.
- Approve the Corporate Governance, including the compensation report and the Audit Committee’s reports for the fiscal year ended on December 31, 2020.
- Approve the independent Auditor’s Report for the fiscal year ended on December 31, 2020.
- Approve the Financial Statements and the Profits and Losses account of the fiscal year ended on December 31, 2020.
- Present the report of any violations recorded by the regulators and applicable penalties on the Company during the fiscal year ended on December 31, 2020, and discuss any notes from the regulators, if any. There was no violation observed by the regulators or penalties on the Company during the fiscal year ended on December 31, 2020.
- Approve the Board of Directors’ recommendation to distribute cash dividends for the fiscal year ended on December 31, 2020 representing 10% (Ten percent) of the nominal value of the share or 10 fils (Ten Fils) per share after deducting treasury stocks, for the shareholders who are registered on the shareholders’ records on the record date and which will be distributed on 03 June 2021 as well as authorizing the Board of Directors of the Company to amend the timeframe if required or if the announcement of the confirmation of the timeframe cannot be made at least 8 working days prior to the record date due to the delay in the publication procedures.
- Approve the Board of Directors’ recommendation to distribute bonus shares for the fiscal year ended on December 31, 2020 for the value of 10% (Ten percent) of the current value of the share capital, i.e. the value of 10 (Ten) shares for every 100 (hundred) shares, and authorizing the Board of Directors to dispose of fractions of the shares resulting from the increase. The bonus shares will be allocated to the shareholders who are registered on the shareholders’ records on the record date and which will be distributed on 03 June 2021, as well as authorizing the board to amend the timeframe if required or if the announcement of the confirmation of the timeframe cannot be made at least 8 working days prior to the record date due to the delay in the publication procedures.
- Approval to deduct the amount of KWD 4,363 thousands representing 10% of the net profits for the year ended on December 31, 2020 for the account of the mandatory statutory reserve of the Company.
- Approve granting permission to corporate directors and their representatives and individual directors of the Board of Directors, or Chairman or any of the executive management members or spouses or second degree relatives thereof, to have direct or indirect interest in contracts and transactions concluded with the Company or in favor of the Company during the fiscal year ending on December 31, 2021 and thereafter until the date of the annual shareholders assembly meeting for the financial year ending on December 31, 2021 as per Article (199) of Companies Law No.1 of 2016, and in accordance with provisions stipulated in Articles (7.4, 7.5, 7.6) of Sixth rule of Chapter Seven of the Fifteenth book of the executive regulation of Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities.
- Approval of listing the Company’s shares in foreign stock exchange, provided that the percentage of the stocks to be listed shall not exceed (40%) of the Company’s capital throughout the listing period, and to delegate the authority to the Board of Directors to take all procedures and instructions as per promulgated rules and regulations by the concerned regulatory bodies in this regard.
- Approval of the allocation and payment of the Board of Directors’ remunerations for the fiscal year ended on December 31, 2020 which amount to 140,000 KD (One Hundred and Forty Thousand Kuwaiti Dinar Only).
- Approval of the related party transactions of the Company including any concluded agreements and contracts that were entered into during the fiscal year ended on December 31, 2020 and authorize the Board of Directors to enter into related party transactions during the fiscal year ending on December 31, 2021 and until the date of the annual general assembly of the shareholders of the Company for the fiscal year ending on December 31, 2021.
- Approval of the authorization to the Board of Directors to purchase or sell not more than 10% (ten per cent) of the Company’s stocks in accordance with the requirements set forth under the applicable laws, in particular, the provisions of law no 7 of 2010 and its executive regulations and amendments thereto and any instructions of the regulators.
- Approval of the authorization to the Board of Directors to issue bonds or sukuk of any type, in the Kuwaiti Dinar or in any other currency it deems appropriate, and not exceeding the maximum authorized by the law or the equivalent in foreign currencies in or outside Kuwait and to determine the type and tenure of the bonds or sukuk and the nominal value and the interest/profit rate and the maturity date and the methods to cover its value, and offering and marketing means, and its redemption and all other terms and conditions, and to appoint whoever it deems required to assist in implementing part or all what is set forth herein, after obtaining approval of the regulatory authorities.
- Approval to discharge and release of the Members of the Board of Directors from liabilities related to their activities during the fiscal year ended December 31, 2020.
- Approve the appointment of the financial auditors for the fiscal year ending 31 of December 2021 who are from the list approved by Capital Markets Authority: Mr. Badr Adel Al Abdul Jader from AlAiban - Al Osaimi & Partners, and Dr. Shuaib Abdullah Shuaib from RSM Albazie & Co. and to delegate the Board of Directors to determine the fees thereof.
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