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Al Mazaya Holding Co (K.S.C) a leading property firm in the region, signed a contribution contract with “Oman Construction” to share in a real estate investment portfolio in Oman with a capital of OMR 3.1 million. Al Mazaya’s share is 40% while 12% is for Oman Construction and 12% for “Mina” real estate company. The remainder of the percentage is submitted for IPO from a chosen group of investors and real estate companies.

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Convocation of the AGM for Al Mazaya Holding Co.

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28-February-2024
Date:
28/02/2024
Subject
Convocation of the AGM for Al Mazaya Holding Co.

In reference to the above subject, and to paragraph 25 of article 4-1-1 of chapter 4 of book 10 of the executive regulation of law No.7 of 2010 regarding the establishment of the Capital Markets Authority and regulating securities’ activities. Kindly note that the AGM for Al Mazaya Holding Co. for the financial year ended 31/12/2023 will be held on Tuesday 26/03/2024 at 11:30 AM. Shareholders may attend the meeting and vote on the resolutions of the General Assembly by choosing between one of two methods, either through electronic attendance and voting according to the policies and procedures manual for general assemblies through the electronic systems issued by the Kuwait Clearing Company as well as the instructions of the regulatory authorities, or through attendance and direct voting at the company premises in Al Merqab – Khaled bin Al Waleed Str. – Al Mazaya Tower (1) – Floor (22) to discuss the attached AGM agenda. The shareholder may not combine or mix – in any way – the two methods of attendance, whether by electronic attendance or direct attendance. In case that the legally required quorum for the validity of this meeting is not met, a second meeting of the Ordinary General Assembly will be held in the same methods and with the same agenda, on Wednesday, 03/04/2024 at 11:30 am, which will be valid regardless of the number of attendees. Herewith attached the AGM Information Announcement Form.

 Form for Disclosing Material Information

Date:

28/02/2024

Name of listed company

Al Mazaya Holding Co. K.S.C. P

AGM type

ordinary

AGM Date

26/03/2024

The final date for purchasing the company's shares to be registered in the registry of the right to attend the AGM *

07/03/2024

Cum Date

07/03/2024

Date of the right to attend the AGM **

12/03/2024

Items of the Agenda
  1. Discussion, approval and ratification of the board of directors’ report on company’s activities, financial position and the operations results for the fiscal year ending December 31, 2023.
  2. Reciting, approval, and ratification of the corporate governance report and audit committee report for the fiscal year ending December 31, 2023.
  3. Discussion, approval, and ratification of the auditor’s report on the financial statements results for the fiscal year ending December 31, 2023.
  4. Discussion, approval, and ratification of the financial statements for the fiscal year ending December 31, 2023.
  5. Presenting any violations observed by the regulatory authorities and any penalties issued as a result of those violations that resulted in imposing penalties (financial and non-financial) on the company (if any)
  6. Presenting and approving the board of directors related parties’ transactions report for the fiscal year ending December 31, 2023, as well as the related parties’ transactions to be carried out for the fiscal year ending December 31, 2024.
  7. Discussion of the proposal of the Board of Directors not to distribute dividends for the fiscal year ending December 31, 2023.
  8. Discussion of the Board of Directors’ authorization to distribute interim dividends (semiannual or quarterly) starting from the company’s first interim financial statements after completing the merger with First Dubai Real Estate Development Company and authorizing the Board of Directors to determine the dividends distribution percentage, subject to having the distribution from real profits, and in accordance with generally accepted accounting principles. This distribution shall not affect the paid-up capital of the company.
  9. Discussion of the proposal of the Board of Directors not to pay board members remuneration for the fiscal year ending December 31, 2023.
  10. Discussion of the approval granted to the Chairman or any of the Members of the Board to have board membership in two competing companies or to participate in any business that competes with the company or to trade for their own accounts or others’ accounts at any of the Company’s branches/offices for the year 2024 in accordance with Article no. 197 of the Companies Law no. 1 of 2016: as well as article 20 of the Statute of the company.
  11. Discussion of the approval granted to those who have a representative at the Board of Directors, the chairman, any of the board members or a member of the executive management or their spouses or relatives of the second degree to have direct or indirect interest in the contracts concluded with the company for the year 2024 in accordance with the provisions of Article 199 of the Companies Law No. 1 of 2016 and in accordance with the provisions of articles (4/7, 5/7, 6/7) of the Sixth Rule of chapter seven of book 15 of the executive bylaws of law No. 7 of 2010 in relation to establishment of the Capital Markets Authority and Organizing Securities Activities.
  12. Discussion of the approval granted to authorize the board to purchase or sell Company shares at no more than 10% of the total shares as per the articles of Law no. 7 of 2010, and its executive bylaws and amendments thereafter.
  13. Discussion of providing clearance to the Board Members for all matters related to their legal, financial and administrative actions for the Fiscal Year ending December 31, 2023.
  14. Discussion of the approval of the social responsibility budget within the financial statements for the fiscal year ending on 31/12/2024 with a total amount of KD 40,000 (Forty Thousand Kuwaiti Dinars).
  15. Discussion of the reappointment of the External Auditor for the fiscal year ending on 31/12/2024 and authorizing the Board of Directors to determine their fees. The external auditor must be among those registered in the special registry at the CMA, taking into account the period of the mandatory change of the external auditor.
AGM means to participate.

Electronic attendance and physical attendance.

AGM Place

Al-Merqab, Block (3) Khaled Bin Al-Waleed Street – Building (2) – Al-Mazaya Tower No. (1), Floor (22)

The postponed date of AGM in case of lack of quorum

03/04/2024

Date:

28/02/2024

Name of listed company

Al Mazaya Holding Co. K.S.C. P

AGM type

ordinary

AGM Date

26/03/2024

The final date for purchasing the company's shares to be registered in the registry of the right to attend the AGM *

07/03/2024

Cum Date

07/03/2024

Date of the right to attend the AGM **

12/03/2024

Items of the Agenda
  1. Discussion, approval and ratification of the board of directors’ report on company’s activities, financial position and the operations results for the fiscal year ending December 31, 2023.
  2. Reciting, approval, and ratification of the corporate governance report and audit committee report for the fiscal year ending December 31, 2023.
  3. Discussion, approval, and ratification of the auditor’s report on the financial statements results for the fiscal year ending December 31, 2023.
  4. Discussion, approval, and ratification of the financial statements for the fiscal year ending December 31, 2023.
  5. Presenting any violations observed by the regulatory authorities and any penalties issued as a result of those violations that resulted in imposing penalties (financial and non-financial) on the company (if any)
  6. Presenting and approving the board of directors related parties’ transactions report for the fiscal year ending December 31, 2023, as well as the related parties’ transactions to be carried out for the fiscal year ending December 31, 2024.
  7. Discussion of the proposal of the Board of Directors not to distribute dividends for the fiscal year ending December 31, 2023.
  8. Discussion of the Board of Directors’ authorization to distribute interim dividends (semiannual or quarterly) starting from the company’s first interim financial statements after completing the merger with First Dubai Real Estate Development Company and authorizing the Board of Directors to determine the dividends distribution percentage, subject to having the distribution from real profits, and in accordance with generally accepted accounting principles. This distribution shall not affect the paid-up capital of the company.
  9. Discussion of the proposal of the Board of Directors not to pay board members remuneration for the fiscal year ending December 31, 2023.
  10. Discussion of the approval granted to the Chairman or any of the Members of the Board to have board membership in two competing companies or to participate in any business that competes with the company or to trade for their own accounts or others’ accounts at any of the Company’s branches/offices for the year 2024 in accordance with Article no. 197 of the Companies Law no. 1 of 2016: as well as article 20 of the Statute of the company.
  11. Discussion of the approval granted to those who have a representative at the Board of Directors, the chairman, any of the board members or a member of the executive management or their spouses or relatives of the second degree to have direct or indirect interest in the contracts concluded with the company for the year 2024 in accordance with the provisions of Article 199 of the Companies Law No. 1 of 2016 and in accordance with the provisions of articles (4/7, 5/7, 6/7) of the Sixth Rule of chapter seven of book 15 of the executive bylaws of law No. 7 of 2010 in relation to establishment of the Capital Markets Authority and Organizing Securities Activities.
  12. Discussion of the approval granted to authorize the board to purchase or sell Company shares at no more than 10% of the total shares as per the articles of Law no. 7 of 2010, and its executive bylaws and amendments thereafter.
  13. Discussion of providing clearance to the Board Members for all matters related to their legal, financial and administrative actions for the Fiscal Year ending December 31, 2023.
  14. Discussion of the approval of the social responsibility budget within the financial statements for the fiscal year ending on 31/12/2024 with a total amount of KD 40,000 (Forty Thousand Kuwaiti Dinars).
  15. Discussion of the reappointment of the External Auditor for the fiscal year ending on 31/12/2024 and authorizing the Board of Directors to determine their fees. The external auditor must be among those registered in the special registry at the CMA, taking into account the period of the mandatory change of the external auditor.
AGM means to participate.

Electronic attendance and physical attendance.

AGM Place

Al-Merqab, Block (3) Khaled Bin Al-Waleed Street – Building (2) – Al-Mazaya Tower No. (1), Floor (22)

The postponed date of AGM in case of lack of quorum

03/04/2024