corporate
- April 17, 2025
Minutes of the Ordinary General Assembly Meeting of the Shareholders of Eradat International Real Estate Company for the Year 2024
The Ordinary General Assembly of Eradat International Real Estate Company was held at 12:00 PM on Thursday, 17/04/2025, at the company’s headquarters, in the presence of:
- Shareholders representing 131,629,267 shares out of the company’s total shares amounting to 131,630,000 shares, with an attendance rate of 99.99%.
- Chairman of the Board of Directors, Dr. Sulaiman Tareq Al Abduljader.
- Company Auditor Mr. Abdulaziz Nasser Jabr, representing Mr. Abdullatif Al Aiban from Al Qatami, Al Aiban & Partners (Grant Thornton).
- Dr. Mohammed Abdulrahman Al Sharafa – Member of the Sharia Supervisory Board.
Dr. Sulaiman Tareq Al Abduljader, Chairman of the Board, opened the meeting by welcoming the esteemed shareholders and presented the agenda as follows:
First: Discussing and approving the Board of Directors’ Report for the fiscal year ending 31/12/2024.
Second: Discussing and approving the External Auditor’s Report for the fiscal year ending 31/12/2024.
Third: Discussing and approving the Sharia Supervisory Board’s Report for the fiscal year ending 31/12/2024.
Fourth: Discussing and approving the Company’s financial statements for the fiscal year ending 31/12/2024.
Fifth: Approving the deduction of 10% to the Legal Reserve, amounting to KD 71,905.
Sixth: Discussing the deduction of 10% to the Voluntary Reserve, amounting to KD 71,905.
Seventh: Reviewing any violations or penalties (financial or otherwise) issued by regulatory authorities. The Chairman stated there were none in 2024.
Eighth: Discussing the Board’s proposal not to distribute dividends for the fiscal year ending 31/12/2024.
Ninth: Discussing the non-distribution of remuneration to the members of the Board of Directors.
Tenth: Reviewing related party transactions and authorizing the Board to continue such transactions until the next General Assembly for FY 2025.
Eleventh: Discharging the Board members from liability related to their legal, financial, and administrative actions for FY 2024.
Twelfth: Reappointing Mr. Abdullatif Al Aiban – License No. (94 A), from Al Qatami, Al Aiban & Partners (Grant Thornton) as External Auditor for FY 2025, and authorizing the Board to determine the fees.
Thirteenth: Reappointing the following Sharia Supervisory Board members for FY 2025, and authorizing the Board to determine their fees:
- Dr. Hamad Yousef Al Mazrouei
- Dr. Abdulrahman Mohammed Al Baloul
- Dr. Mohammed Abdulrahman Al Sharafa
The meeting concluded at 12:15 PM.