Hassan Al -Sitry
The general investment of the Investment Import Company during the social and unusual general assembly socially approved the distribution of cash dividends by 15%, or 15 fils per share. The distribution of a grant shares of 5%, or 5 shares per 100 owned shares, was approved.
The meeting was chaired by the Four Seasons Hotel, the Gulf of Bahrain, Chairman of the Board of Directors, Hisham Al -Rayes, in the presence of members of the Council and CEO. The meeting witnessed the attendance of shareholders who represented 44.27% of the total shares of the regular and unusual associations. The company also obtained the approval of the Ministry of Industry and Trade and the Central Bank of Bahrain, “the Department of Financial Markets Control”, on the text of the invitation and the terms of the agenda.
During the meeting, the minutes of the former ordinary general assembly meeting were approved for the year 2023 AD held on March 26, 2024 AD, and the report of the Board of Directors for the fiscal year ending December 31, 2024, and listening to the report of external accounts. Whereas, the financial statements for the end of the year 31 December 2024 were discussed and approved.
In addition, the meeting witnessed approval to allocate an amount of 5,009 Bahraini dinars to the legal reserve and the amount of 100,000 Bahraini dinars for charitable work and civil society institutions and agree to allocate an amount of 200,000 Bahraini dinars as a reward for the members of the Board of Directors for last year.
The governance report was also discussed, and it was approved, and the operations that took place during the fiscal year ended on December 31, 2024 with any relevant parties in line with Article 189 of the Commercial Companies Law. The members of the Board of Directors were also discharged from the fiscal year ending December 31, 2024.
The meeting witnessed the failure of shareholders to reduce the number of seats in the Board of Directors from 8 to 7 seats. The shareholders also agreed to the re -purchase of the shares of the company (treasury shares), not exceeding 10% of the total issued and paid shares for the purpose of supporting the stock, and accordingly, the shareholders agreed to appoint a liquidity provider, after obtaining the approval of the Central Bank of Bahrain, and the Board of Directors was also delegated to determine the liquidity provider and extend a knot.
On the level of the extraordinary association, the meeting witnessed the approval of the minutes of the previous meeting held on March 26, 2024, and the approval of the capital increase 15.44 million Bahraini dinars to 16.21 million Bahraini dinars and the increase in the number of shares from 154 million shares to 162 million shares.
It was also approved to amend the establishment of the company’s articles of association and the company, and to authorize the Chairman and CEO of signing the two contracts and submit relevant documents.
In a statement to “Al -Watan” on the sidelines of the association, the CEO of the Import Company Ahmed Abdel Rahman revealed the company’s plan to expand in the Gulf region, and he said: We look at Saudi Arabia and the UAE as real estate projects and companies that we invest in seriously, and during the second or third quarter of this year he is expected to announce the acquisition of a company in the Gulf.
He continued: We have achieved a profit rate of more than 10%, and we expect to increase profits in the coming period, as we focus in investing on the education, health, services, services and troubled real estate projects, as we bought the bankruptcy project of the faltering in the countryside of the countryside, and we look at other stalled real estate projects in the Gulf, because “import” is a good reputation to acquire stalled projects, whether real estate or banking and return the confidence of investors for these projects.
He added: We do not enter into a project that we do not understand, we have a team specialized in more than one field, and we focus on the areas in which we understand, whether real estate, health, education or services.
