Barwa AGM Approves Agenda Items, 25% Cash Dividend, Postpones EGM to 6/03/2018

for Lack of Quorum

 

February 28, 2018

 

Barwa Real Estate Company announced the resolutions of Annual General Assembly (AGA) held on Tuesday 27 February 2018 and approved the items on the following agenda::


1. To review and approve the Board of Directors’ Report on the activities of the company and its financial position for the financial year ending 31/12/2017 as well as to discuss and approve the company’s future plans for the year 2018.

2. To review and approve theauditors’ report on the financial statements of the company for the year ending31/12/2017.

3. To review and approve theSharia’a Supervisory Board report for the year ending 31/12/2017 and appoint new Sharia’a Supervisory Board for the year 2018.

4. To discuss and approve the company’s balance sheet and profit/loss statement for the year ending31/12/2017.
5. To approve the Board of Directors’ proposal of cash dividend of QR 2.5per share, 25%of the share value, for the financial year ending 31/12/2017.

6. To absolve the Board of Directors’ members of any liability for the financial year ending 31/12/2017,and approve their remuneration for the year then ended

7. To discuss and approve the company’s Governance Report for the year ending 31/12/2017.

8. To appoint the Auditors for the2018 financial year, and agree their fees.

The extraordinary general meeting of the General Assembly was adjourned to be held on Tuesday 6 march 2018 due to lack of quorum.

To view the press release, click here