Reference to the above subject, and pursuant to the Capital Markets Authority regulations concerning disclosure of substantial information as stated in Chapter 4 of Book 10 Article ( 4-1-1/25) which requires the disclosure of the invitation to general assembly, provided that the disclosure shall include a brief of the meeting agenda items. We would like to indicate the following:

 

The Ordinary General Assembly of Kuwait International Bank will be convened on Saturday 18.3.2017 at 1600, at the Bank’s Head Office.

The outcomes of the Ordinary General Assembly will be disclosed later on, in line with the requirements of disclosure of substantial information.

 

 

Invitation to KIB Ordinary General Assembly

 

Date:  20 February 2017

Listed Company: Kuwait International Bank

Substantial Information: The Ordinary General Assembly of Kuwait International Bank will be convened on the Saturday 18.3.2017 at 1600 at the Bank’s Head Office.

Substantial Information Impact on the Company’s Financial Position: The outcomes of the Ordinary General Assembly will be disclosed later on, in line with the requirements of disclosure of substantial information.

 

Agenda for Kuwait International Bank Ordinary General Assembly Meeting:

 

1. Attend to and verify the Board of Directors report for the financial year ending 31/12/2016.

2. Attend to and verify the Bank’s auditors report for the financial year ending 31/12/2016.

 

3. Attend to and verify the report of Shariah and Fatwa Board for the financial year ending 31/12/2016.

 

4. Attend to the violations report as observed by the regulatory bodies and the penalties imposed on the Bank during 2016.

 

5. Authentication of the financial statements and the final accounts report for the financial year ending 31/12/2016.

 

6. Approve the Board of Directors’ recommendation for distribution of cash dividends of (10%) of the share’ nominal value (i.e 10 fils per share) for the financial year ending 31/12/2016, after deduction of treasury shares, on the shareholders whose names are registered in the Bank’s records on the date of the ordinary general assembly meeting. 

7. Approve the Board of Director’s recommendation for conferring KD 325 thousands as a bonus for the Chairman and the Board members, as well as a special bonus for the chairman for an amount of KD125 thousand, for the financial year ending 31/12/2016.

 

8. Approve the Board of Director’s recommendation for dispensing chairman remunerations of KD12 thousand monthly as of date of this general assembly meeting until the date of the coming general assembly meeting next year.

 

9. Approve the Bank’s license for granting financing facilities and dealing with the Board members and related parties during the year 2017 in accordance with the Bank’s applicable policies and regulations and within the framework of the pertinent regulatory laws and instructions.

 

10. Attend to and verify the report on related parties’ transactions that have been, or to be executed.

 

11. Discharge the members of the Board of Directors from any liabilities related to their legal actions during the financial year ending 31/12/2016.

12. Delegate the Board of Directors to purchase, sell, and dispose of no more than (10%) of the bank’s total shares. This delegation shall remain valid and effective for eighteen months.

13. Approve deduction of 10% for the statutory reserve account.

 

14. Approve deduction of 10% for the voluntary reserve account.

 

15. Appoint or re-appoint the Fatwa and Shariah Board for the financial year ending 31/12/2017 and delegate the Board of Directors for determining their respective remunerations.

 

16. Appoint or re-appoint the Bank’s auditors for the financial year ending 31/12/2017 and delegate the Board of Directors for determining their respective fees.