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Almadina for Finance and Investment Company

ALMADINA
0.554
0.002
0.360%
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  • Market: DFM
  • Symbol: ALMADINA
  • ISIN: KW0EQ0202030
  • Sector: Invest. & Fin. Services

Company Brief

Country of Origin: Kuwait

Al Madina for Finance and Investment Company is Closed Kuwaiti Shareholding Company (“The Parent Company”) established in Kuwait in 1980, and is registered as an investment company with the Central Bank of Kuwait on 27 April 2005. The shares of the Parent Company were listed on Kuwait Stock Exchange in 24 April 2006.

The Parent Company and its subsidiaries are (together referred to ‘’the Group’’). The principle activates of the Group are represented in all investment’s activities, finance and management of movable and unmovable funds and rights. Also trading, leasing and selling of lands and real estate to customers. The activities of the Group are carried out in accordance with Noble Islamic Shariaa principles.

Key Facts

ESTABLISHED

Sep 1, 1980

AUDITOR

1. Alateeqi Chartered Accountants
2. Deloitte & Touche

FISCAL YEAR END

DECEMBER 

Board Members

CHAIRMAN

Mr. Muhammad D. H. A. Al Shamali

DEPUTY

Mr. AbdulRaoof Tawfeeq

MEMBERS

Sheikh/ Ahmed Dawood Al Subah
Manal Abdulkareem Bin Haydar
Ahmed AbdulFattah Badr

Top Management

Chief Executive Officer
Mr. Yousuf Mousa Alabdallah Alabdelrazak

Equity Profile

DATE OF LISTING

Sep 11, 2007

SECTOR

Invest. & Fin. Services

AUTHORIZED CAPITAL:

40,706,523.00 KD

ISSUED SHARES

407,065,225.00

PER VALUE SHARE

0.10 KD

Contact Details

Head Office

KUWAIT

Address

Kuwait City-Almergab-Alsour Str.-Jasem Alasfour tower

Phone No.

+965 229 60777

Fax No.

+965 229 60955

Email address:

info@almadinainvest.com

Website

http://www.almadinainvest.com

Showing Last 10 Disclosures - ALMADINA View all
ALMADINA 10-08-2017 02:23 AM

Interim condensed consolidated financial statements for the 2nd QTR of 2017

1 File(s)
ALMADINA 10-08-2017 08:19 AM

Results of BOD meeting including preliminary financial results for the 2nd QTR of 2017

1 File(s)
ALMADINA 06-08-2017 03:00 AM

BOD meeting

1 File(s)
ALMADINA 30-06-2017 02:18 AM

Financial statements for the 2nd QTR of 2017

1 File(s)
ALMADINA 19-06-2017 09:22 AM

Notification from the company

1 File(s)
ALMADINA 14-06-2017 09:20 AM

Resolutions of General Assembly

1 File(s)
ALMADINA 13-06-2017 10:30 AM

Resolutions of General Assembly

1 File(s)
ALMADINA 29-05-2017 09:17 AM

Invitation of General Assembly

1 File(s)
ALMADINA 17-05-2017 01:14 AM

Interim consolidated financial statements for the 1st QTR of 2017

1 File(s)
ALMADINA 17-05-2017 08:24 AM

Results of BOD meeting including preliminary financial results for the 1st QTR of 2017

1 File(s)
Showing Last 10 Issuer News - ALMADINA View all
No data could be found.
Showing Last 10 Financial Reports - ALMADINA View all
ALMADINA 30-06-2017 02:18 AM

Financial statements for the 2nd QTR of 2017

1 File(s)
ALMADINA 31-03-2017 10:47 AM

Financial statements for the 1st QTR of 2017

1 File(s)
ALMADINA 31-03-2017 10:41 AM

Financial statements for the year of 2016

1 File(s)
ALMADINA 31-03-2017 10:30 AM

Financial statements for the 1st QTR of 2017

1 File(s)
ALMADINA 30-09-2016 05:35 AM

Financial statements for the 3rd QTR of 2016

1 File(s)
ALMADINA 30-06-2016 10:31 AM

Financial statements for the 2nd QTR of 2016

1 File(s)
ALMADINA 02-05-2016 02:30 AM

Financial statements for the 1st QTR of 2016

1 File(s)
ALMADINA 28-04-2016 03:08 AM

Financial statements for the year of 2015

1 File(s)
ALMADINA 23-11-2015 03:36 AM

Financial statements for the 3rd QTR of 2015

1 File(s)
ALMADINA 10-09-2015 03:30 AM

Financial statements for the 2nd QTR of 2015

1 File(s)
Showing Last 10 General Meetings - ALMADINA View all
Meeting Date/TimeJun 13, 2017 12:00:00 PMType of MeetingGeneral Assembly
Net Profit/Loss1,401,790Cash Dividend
Bonus Share
Announcements/Resolutions

Kindly note that AGM Meeting of Al-Madina was held on Tuesday 13th of  June 2017,the percentage of attendance was 50.3% which represents an 200,973,499 share out of total capital shares No. of 407,065,225 share . The General Assembly approved all the agenda items which includes:

  • Approve not to distribute any dividends for the year ended on 31 Dec 2016.

  • Assign the External Auditor  Mr.Bader Al-Wazzan (Deloitte & Touche – AlWazzan & Co.), for the year ended on 31 December 2017:

  • Reassign the Islamic Sharia members  Controllers (Raqaba global for Sharia Audit Co.), for the year ended on 31 December 2017.

 

  The Minutes of AGM Meeting will be provided after got it approved by the Competent authorities.


Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenuePublic Authority for Industry
1 File(s)
Meeting Date/TimeNov 13, 2016 12:00:00 PMType of MeetingGeneral Assembly
Net Profit/Loss(4,879,756)Cash Dividend
Bonus Share
Announcements/Resolutions1. Released the previous board members from liability

2. Elect the following company board of directors according to the company AOA:
 - Mohamad Darweesh Alshamali, representing India Holding Company.
 - Shikh/ Ahmed Dawood Salman Alsubah, representing Altatweer Capital Real Estate Co.
 - Manal AbdulkareemBin Hayder, representing Develop for General Trade & Constructions Co.
 - Ahmad Abdulfattah Badr, representing Qanawat Telecom for General Trade & Constructions Co.
 - Dr. Abdul Ra'oof Tawfeek Abdelsayed

Alternate members:

- Sharif Mohamad Abdulraziq , representing Bayt ALtamweel Holding.
- Emad Husain Neema Abdulrahman.
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueJassem Al asfour Tower 19th Floor
1 File(s)
Meeting Date/TimeJun 26, 2016 12:00:00 PMType of MeetingExtraordinary Meeting
Net Profit/Loss(4,879,756)Cash Dividend
Bonus Share
Announcements/Resolutions
FIRST: It is unanimously approved to add a new article (54) to the Memorandum of Association and Articles of Associations, reading as follows:
 
Company may purchase and sell its shares (treasury shares) maximum of ten percent 10% of the issued shares at their market value, in accordance with the provisions of the Executive Regulations of the Law No. (7), of the year 2010, on the formation of the Capital Markets Authority and regulation of the Financial Securities Activities, as amended.
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueMirqab, Ministries Complex,2nd Floor
1 File(s)
Meeting Date/TimeJun 01, 2016 12:30:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss(4,879,756)Cash Dividend
Bonus Share
Announcements/Resolutions
FIRST: Heard the Chairman Report on the fiscal year ending as at 31 December 2015, which has been unanimously approved.

SECOND: Heard the Auditor Report on the fiscal year ending as at 31 December 2015, which has been unanimously approved.

THIRD: Heard the Legal Advice Bureau Report on the fiscal year ending as at 31 December 2015, which has been unanimously approved.

FOURTH: Heard the Report on such penalties and violations imposed by the regulatory bodies, as follows:

1)  Violation No. (VB 4/2015), regarding the violation of the Market Committee Resolution No.(5), of the year 2005, Clause (21), of the requirements of the Market Administration as relevant to such agreements to be concluded by the company managing third parties portfolios with its own clients; as well as Clause(162), of the Executive Regulations. The Company has been referred to the Disciplinary Council on 19/04/2015, which resolved to take a disciplinary action on 07/05/2015 by suspending the complained-against company from operating into the business of investment portfolios management as of 27/05/2015.

The company challenged such a resolution vide the lawsuit No. (34/2015 –Administrative /7 – Capital Market), scheduled for hearing on 03/07/2016, for review by the Bureau.

2)  Violation No. (VB 37/2015), regarding the violation of the Clause (295), of the Executive Regulations, whereupon the company has been referred to the Disciplinary Council on 27/05/2015, which resolved on 11/06/2015, to suspend the complained-against company from operating into the business of the management of new investment portfolios as well as incorporation activity for three months.

A final court judgment has been issued by revoking the resolution passed on such as violation, including the impacts consequential thereto; i.e., the Judgment No. (6/2016 – Administrative /  Capital Markets).

3)  Violation No. (VB 75/2015) regarding the violation of the instructions issued by the Capital Markets Authority on the Disclosure of Essential Information &Mechanism of Reporting thereof No. (CMA/R/CM/2/2012), whereupon the company has been referred to the Disciplinary Council on 17/09/2015, which resolved on 01/10/2015 to issue a warning to the company.

The Company challenged such a resolution vide the lawsuit No. (61/2015 – Administrative/ 7 – Capital Markets), scheduled for hearing on 19/06/2015.

4)  Violation No. (VB 80/2015), regarding the violation of the Clause No. (131) of the Executive Regulations, whereupon the company has been referred to the Disciplinary Council on 08/10/2015, which resolved on 22/10/2015 to issue a warning to the company.

The Company challenged such a resolution vide the lawsuit No. (61/2015 –Administrative / 7 – Capital Markets), scheduled for hearing on 19/06/2015.

5)  Violation No. (VB 121/2015), regarding the violation of Clauses (1-2), (2-1), (4-5) of item (5-2-1), and item (5-4-2), of the Seventh Chapter, and Clause (8-1) of the Eleventh Chapter of the Executive Regulations, whereupon the company has been referred to the Disciplinary Council on 23/12/2015, which resolved on 31/12/2015 to:

First:To shelf the papers for invalidity of the violation;

Second:To suspend the company from operating into the business of incorporation and new group investment management systems.


The Company challenged such a resolution vide the lawsuit No. (13/2016 –Administrative / 7 – Capital Markets), scheduled for hearing on 05/06/2015.

Mr.Mohamed Darwish Al-Shamali replied that all such violations have been challenged by the company before the court, whereby it managed to secure final judgments in favor of the company.
 

FIFTH: Financial Statements relevant to the fiscal year ending as at 31 December 2015, and unanimously approved, have been discussed after the representative of the Ministry of Commerce & Industry has read out the violations report previously imposed by the Ministry of Commerce & Industry, represented in:

- The Company’s violation of the Clause (206) on submission of Financial Statements, and convocation for holding general assembly meetings;

- The Company’s violation of calculating its share of the an associate company’s operation results, based on such financial statements prepared by the Management;

- The Company’s violation of registering investment real estates in the name of stakeholders;

- The Company’s Management shall strive to remedy such violations at the earliest possible;

Mr. Mohamed Darwish Al-Shamali replied that the Company’s Management shall strive to remedy such violations at the earliest possible.

SIXTH: BOD’s proposal for non-distribution of any dividends for the fiscal year ending as at 31 December 2015 is unanimously approved.

SEVENTH: BOD’s recommendation for non-distribution of BOD members remunerations for the fiscal year ending as at 31 December 2015 is unanimously approved.

EIGHTH: BOD is to be authorized to purchase or sell shares of the company, but not greater than 10% of its shares, in accordance with the provisions of the Law No. (7), of the year 2010, its Executive Regulations, and as amended.

NINTH: It is unanimously approved to transact with the stakeholders for the fiscal year ending as at 31 December 2015, and for the transactions to be conducted within the year 2016.

TENTH: It is unanimously approved to release the BOD members of all such administrative, financial and legal actions with regard to the fiscal year ending as at 31 December 2015.

ELEVENTH: Resolved to postpone the election of BOD members pending fulfillment of the Capital Markets Authority’s requirements on the necessary approval of those candidates nominated for the membership of the BOD currently running the company’s businesses until elimination of the reasons therefor and further election of a new BOD, in accordance with the provisions of para (2) of the Clause (181), of the Companies Act No. (1), of the year 2016.

TWELFTH: It is unanimously approved to re-appoint the auditors for the fiscal year ending as at 31 December 2016, while authorizing the BOD for determining their remunerations, to wit:

-    Mr. Talal Youssef Al-Muzeini              (Deloitte Watch Office – Al-Wazzan & Partners)

-    Mr. Barrak Abdul Mohsen Al-Atiqi     (Al-Atiqi Office – Chartered Accountants)

THIRTEENTH: It is unanimously approved to re-appoint the members of the Legal Advice Bureau for the fiscal year ending as at 31 December 2016, while authorizing the BOD for determining their remunerations (i.e., RAQABA for Islamic Financial Consultations), herein represented by:

-    Revered Sheikh Dr. Abdul Bari Mohamed Ali Mishaal

-    Revered Sheikh Mohamed Fouad Al-Bader

-    Revered Sheikh Waqyan Othman Al-Waqyan
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueAhmad Al-Jaber St., Dar Al-Alwadhi Building 1st Floor
1 File(s)
Meeting Date/TimeMay 31, 2012 12:00:00 PMType of MeetingAnnual General Meeting
Net Profit/LossKD (788,352)Cash DividendN/A
Bonus ShareN/A
Announcements/ResolutionsApproved the Board of Directors Report for the financial year ended 31/12/2011 Was read all financial sanctions or non-financial, which was signed on the company by the Central Bank of Kuwait for the financial year ended 31/12/2011. Adoption of the Report of the Fatwa and Shari'a Supervisory Board for the financial year ended 31/12/2011 Approved the auditors' report for the financial year ended 31/12/2011 When the financial statements for the fiscal year ending 31/12/2011 Been off the accumulated losses of the Company as in the financial statements for the year ended 31/12/2011 of $ (11,593,304) d. As of 31/12/2011 as to become (29.126.984) d. K after switching off the losses. Approval of the Board's proposal not to distribute dividends for the financial year ended 31/12/2011. Approved the recommendation of the Board of Directors not to exchange Directors' remuneration for the financial year ended 31/12/2011 Was renewed mandate the Board of Directors to purchase or sell shares
Last Date For Dividend EntitlementN/AEx-Dividend DateN/A
Register Closing (Settlement) DateN/ATrading Suspension DateN/A
Trading Resuming DateN/ADividends Payment Date
Payment EntityMeeting VenueSharq - Ahmed Al Jaber Al - Dar Al Awadi Complex - First Floor Commercial
1 File(s)
Meeting Date/TimeJun 05, 2011 12:00:00 PMType of MeetingAnnual General Meeting
Net Profit/LossKD (10,414,232)Cash Dividend
Bonus Share
Announcements/Resolutions- Approved BOD & auditors reports for the year ended 31/12/2010 - Approved the Fatwa and Sharia Authority Report for the year ended 31/12/2010 - Approved the financial statements for the year ended 31/12/2010 - Approved not to distribute dividends for the year ended 31/12/2010 - Approved to remunerate its BOD members for the year ended 31/12/2010 - Approved to re-delegate its BOD to buy 10% of the company’s shares - Approved to delegate its BOD to enter into transactions - Discharged & released the BOD members from liabilities during the year ending 31/12/2010 - Approved to appoint Deloitte &Touch as auditors for the year 2011 & delegated its BOD to determine their remuneration - Approved to appoint the members for Fatwa & Sharia Authority & delegated its BOD to determine their remuneration
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date05/06/2011
Trading Resuming Date06/06/2011Dividends Payment Date
Payment EntityMeeting VenueCompany's Head office, Ahmed Al Jaber St, Dar Al Awadhi Complex, 1st Commercial Floor
Meeting Date/TimeJul 29, 2010 12:00:00 PMType of MeetingExtraordinary Meeting
Net Profit/LossKD -9,646,183Cash Dividend
Bonus Share
Announcements/ResolutionsApproved casing changes on Article 6 of Memorandum of Association and article 5 of Article of Association - Approved to increase paid up capital from KD 42,394,588 to KD 40,706,523
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date29/07/2010
Trading Resuming Date01/08/2010Dividends Payment Date
Payment EntityMeeting VenueCompany’s main building
Meeting Date/TimeJul 29, 2010 12:00:00 PMType of MeetingAnnual General Meeting
Net Profit/LossKD -9,646,183Cash Dividend
Bonus Share
Announcements/Resolutions- Approved to increase paid up capital from KD 42,394,588 to KD 40,706,523
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date29/07/2010
Trading Resuming Date01/08/2010Dividends Payment Date
Payment EntityMeeting VenueCompany’s main building
Meeting Date/TimeJun 08, 2010 12:30:00 PMType of MeetingAnnual General Meeting
Net Profit/LossKD -9,646,183Cash Dividend
Bonus Share
Announcements/Resolutions- Approved Directors, Sharia Supervisory & the auditor’s report for the year ended 31/12/2009 - Approved balance sheet and the profit & loss statements of the company for the year ended 31/12/2009-Approved to transact with related parties - Authorize BOD to buy back 10% company’s shares –- Absolved the members of the Board of Directors from responsibilities for the year ended 31/12/2009 –re-appointed auditors for the Financial Year 2010 and approved their fees – Approved not to distribute any profits – re-appointed Sharia Supervisory for the Financial Year 2010 and approved their fees – Approved the decision of cancelling the remuneration of BOD for the year ended 31/12/2009 - Approved electing BOD members for the next three years – Authorized BOD to issue Sukuk
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date8/06/2010
Trading Resuming Date9/06/2010Dividends Payment Date
Payment EntityMeeting VenueCompany’s main building
Meeting Date/TimeJun 25, 2009 01:00:00 PMType of MeetingExtraordinary Meeting
Net Profit/LossKD 6,986,636Cash Dividend
Bonus Share
Announcements/Resolutions- Approved to reduce company’s paid up capital by canceling 1,500,00 share -Approved increasing paid up capital by issuing 11.4% for Sarh Al Madina Properties and 0.8% to employees – Approved causing the necessary changes on the Article of Association and Memorandum of Association
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date25/06/2009
Trading Resuming Date28/06/2009Dividends Payment Date
Payment EntityDar Al Awad Complex Meeting Venue
Top ShareholdersLast Refreshed at: 20 September 2017

Individual Investors

ShareholdersPercentage
شركه المدينه للتمويل والاستثمار ش م ك م 9.19%

  • 1 EN
    1

    Article of Association - 0001

Foreign Investments View all
National GCC Arab Other Nationalities
Country of Origin Actual Permitted Actual Permitted Actual Permitted Actual Permitted As of Date:
KUWAIT 78.43% 100% 13.02% 100% 5.96% 49% 2.59% 49% 20-09-2017
Showing Last 10 Corporate Governance Reports - ALMADINA View all
No data could be found.
Showing Corporate Actions - ALMADINA View all
Year2008Corporate Action TypeBonus Shares
Last Date For Action Entitlement5/13/2008Ex-Dividend Date5/14/2008
Register Closing (Settlement) Date5/15/2008Trading Suspension Date5/13/2008
Trading Resuming Date5/14/2008Run (Effective) DateNot Available
Corporate Action DetailsIssue bonus shares in the ratio of (15%) activated as agreed at the Annual General Meeting held on 13/05/2008.
Year2008Corporate Action TypeCash Dividends
Last Date For Action Entitlement5/13/2008Ex-Dividend Date5/14/2008
Register Closing (Settlement) Date5/15/2008Trading Suspension Date5/13/2008
Trading Resuming Date5/14/2008Run (Effective) DateNot Available
Corporate Action DetailsDistribute 40% cash dividends as agreed in their AGM held on 13/05/2008.
Disclaimer
  • Ownership percentage is subject to change based on several reasons including the following:
    1. Trading activity.
    2. Off-Market Transactions such as family and inheritance transfers.
    3. Changes in the nationality status of investors.
    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.
    5. Capital increase by issuing new shares to a strategic investor.
    6. Converting Bonds into shares.
    7. Equity added to the equity of the associated group.
    8. Direct Deals.

 

Percentages are updated daily after 4 pm
Disclaimer
The above published Ownership Percentages:
  • Are updated daily at the end of every trading day based on date of trade and not settlement date.

  • The ownership percentages are rounded off to 2 decimal places

  • Ownership percentages are subject to change due to the following:

    1. Trading activities.

    2. Off-Market Transactions such as family and inheritance transfers.

    3. Changes in the nationality status of investors.

    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.

    5. Capital increases, by issuing new shares to Strategic investor

    6. Converting bonds or Sukuk into shares.

    7. Changes of associated group’s ownership.

    8. Direct Deals. (The ownership percentage is changed immediately after the execution of the deal).

    9. Failed trade settlement.


DISCLAIMER

The information provided in this document is only available in Arabic due to the (Dubai court attestations only being in Arabic herein after referred thereto as (“Information”) is provided by way of general information and comment only. While reasonable care has been taken in producing this Information, changes in circumstances may occur at any time and may impact on the accuracy of the Information. The Information does not constitute professional advice or provision of any kind of services and should not be relied upon as such.  Dubai Financial Market (“DFM”) and/or its affiliates, officers or employees,  does not give any warranty or representation as to the accuracy, reliability, timeliness or completeness of the Information now or in the future. DFM shall not be liable for any loss suffered, directly or indirectly by any person acting in reliance upon the Information contained herein. 


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