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  • SALAM_BAHNotification from the company
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01 january 2014
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Home > Issuers > Listed Securities > Securities > Company Profile Page

International Financial Advisors K.S.C.C.

IFA
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  • Market: DFM
  • Symbol: IFA
  • ISIN: KW0EQ0200265
  • Sector: Invest. & Fin. Services

Company Brief

Country of Origin: Kuwait

International Financial Advisors – KSC (Closed) (“the Parent Company”) was incorporated on 31 January 1974 under the Commercial Companies Law No. 15 of 1960 and amendments thereto. The parent company is licensed as an investment company which operates its activity according to the regulations issued by the Central Bank of Kuwait and its articles of association.

The parent company is principally engaged in providing financial advisory services, trading in local and international securities, borrowing, lending, issuing guarantees, managing investment funds, investment portfolios and dealing with future contracts

Key Facts

ESTABLISHED

Jan 31, 1974

AUDITOR
Grant Thornton - Al-Qatami , Al-Aiban & Partners

FISCAL YEAR END

DECEMBER

REGISTRAR

International Financial Advisors K.S.C.C.

Board Members

CHAIRMAN

Mr. Saleh Saleh Al Selmi

MEMBERS
Mr. Hussain Ali Al-Attal
Mr. Rami Khaled Ali
Mrs. Laila Abdulkarim Al-Ibrahim
Mr. Hamed Mohammed Al Aiban

Top Management

EVP-Investment

Mr. Bassel Atieh

VP Finance

Mr. Aly Mostafa El-Haty 

VP Back Office 

Mr. Yasser Al-Nahhas

COO - HR
Mr. Mohammed Abu AlRub

Equity Profile

DATE OF LISTING

Sep 10, 2005

SECTOR

Invest. & Fin. Services

AUTHORIZED CAPITAL:

72,000,000.00 Kuwaiti Dinar

ISSUED SHARES:
720,000,000

PER VALUE SHARE

1.00 Kuwaiti Dinar

Subsidiaries

Gulf Real Estate Company Kuwait 46.32 %
IFA Aviation Company Kuwait 74.80 %
IFA Hotels & Resorts Kuwait 57.23 %
Radeem Real Estate Company Lebanon 99.70 %
Dana Real Estate Company Lebanon 90.00 %
Seven Seas Resorts Company Kuwait 48.30 %
Suhail Telecommunication Services Company Kuwait 99 %
IFA Investments Switzerland 100 %

Contact Details

Head Office

Kuwait

Address

Al-Salhiya Complex, Gate (1) 5th floor - P.O. Box: 4694 Safat - 13047 Kuwait

Phone No.

+965 184 4432
+965 224 55636

Fax No.

+965 224 92212

Email address:

alihati@ifakuwait.com

Website

http://www.ifakuwait.com

Showing Last 10 Disclosures - IFA View all
IFA 10-01-2019 08:23 AM

Minutes of General Assembly

1 File(s)
IFA 07-01-2019 02:38 AM

Resolutions of General Assembly

1 File(s)
IFA 07-01-2019 08:14 AM

Resolutions of General Assembly

1 File(s)
IFA 26-12-2018 08:06 AM

General Assembly date

1 File(s)
IFA 25-12-2018 08:13 AM

Postponing General Assembly for the lack of quorum

1 File(s)
IFA 09-12-2018 09:00 AM

Invitation of General Assembly

1 File(s)
IFA 26-11-2018 11:13 AM

Financial statements for the 3rd QTR of 2018

1 File(s)
IFA 26-11-2018 11:13 AM

Financial statements for the 3rd QTR of 2018

1 File(s)
IFA 22-11-2018 08:33 AM

Results of BOD meeting including preliminary financial results for the 3rd QTR of 2018

1 File(s)
IFA 14-11-2018 09:32 AM

Changes of BOD meeting date

1 File(s)
Showing Last 10 Issuer News - IFA View all
IFA 10-12-2012 07:43 AM

Announces the commencing of Miax Option Exchange

1 File(s)
Showing Last 10 Financial Reports - IFA View all
No data could be found.
Showing Last 10 General Meetings - IFA View all
Jan 07, 2019 02:38:00 PM - IFA - Resolutions of General Assembly
Meeting Date/TimeJan 06, 2019 11:00:00 AMType of MeetingGeneral Assembly
Net Profit/Loss14,503,660Cash Dividend
Bonus Share
Announcements/Resolutions


Please note that the company's postponing extraordinary general assembly was held today, 06/01/2019, where the assembly unanimously agreed to amend the company's objectives to become a holding company and amend Articles (2 and 5) of the Memorandum of Association and Articles (1 and 4) of the Articles of Association of the company in respect to the Company's purposes.

 

You will be provided with the minutes of the Extraordinary General Assembly Meeting upon its approval by the Ministry of Commerce and Industry in the State of Kuwait

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueKuwait
1 File(s)
May 14, 2018 02:09:00 PM - IFA - Resolutions of General Assembly
Meeting Date/TimeMay 13, 2018 12:00:00 PMType of MeetingGeneral Assembly
Net Profit/Loss(8,263,609)Cash Dividend
Bonus Share
Announcements/Resolutions

We would like to inform you that the company held an ordinary general assembly meeting today 13/05/2018, The general assembly approved the boards of directors’ suggestion to not distribute any profit for the fiscal year ended in 31/12/2017.

We would also like to inform you that the general assembly agreed to delegate the board of directors for the sale and purchase of no more than 10% of the company’s shares in according to the articles of law No.7 for 2010 and the executive in law and the amendments


Note that the assembly agreed on all the listed terms on the AGM Agenda unanimously.

We will provide you with the general assembly meeting’s minutes upon credence by the Ministry of Commerce and Industry in the State of Kuwait.
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueJW Marriot Hotel - Salhiya Hall
1 File(s)
Jul 30, 2017 04:16:00 PM - IFA - Resolutions of General Assembly
Meeting Date/TimeJul 31, 2017 12:00:00 PMType of MeetingGeneral Assembly
Net Profit/Loss(2,690,381)Cash Dividend
Bonus Share
Announcements/Resolutions

We would like to inform you that the company held an ordinary general assembly meeting today 31/07/2017, The general assembly approved the boards of directors’ suggestion to not distribute any profit for the fiscal year ended in 31/12/2016.

We would also like to inform you that the general assembly agreed to delegate the board of directors for the sale and purchase of no more than 10% of the company’s shares in according to the articles of law No.7 for 2010 and the executive in law and the amendments

In addition, the Assembly approved the reappointment of Mr. Anwar Yousef Al-Qatami from  Grant Thornton -Al-Qatami, Al-Aiban & Partners as an auditor of the company for the fiscal year ended in 31/12/2017, and elected new Board members for the next three years.

Note that the assembly agreed on all the listed terms on the AGM Agenda unanimously.

We will provide you with the general assembly meeting’s minutes upon credence by the Ministry of Commerce and Industry in the State of Kuwait.

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenuePublic Authority of Industry / South Surra Main Hall 3
1 File(s)
Jul 24, 2016 10:42:00 AM - IFA - Resolutions of its Assembly Meeting
Meeting Date/TimeJul 17, 2016 11:00:00 AMType of MeetingAnnual General Meeting
Net Profit/Loss1214181Cash Dividend
Bonus Share
Announcements/Resolutions

First Item:

Unanimous approval on the Board of Directors` report for the financial year ended on 31st December 2015.

Second Item:

Unanimous approval on the company’s auditors` report for the financial year ended on 31st December 2015.

Third Item:

The shareholders were briefed on the penalties and irregularities report on the imposed on the company by the regulatory authorities for the financial year that ended on 31st December 2015, The Chairman of the meeting pointed to the letter of the ministry of Commerce &Industry No. (11608/2016) dated 26/06/2016 which contains the list of company’s violations observed by the ministry of Commerce & Industry which are:

 

1.      Company’s violation of the article (206) to provide data and convene a general   

assembly.

2.      Company’s violation of the article (183).

3.      Company’s violation of the article (191).

4.      Company’s violation of the article (22).

5.      Company’s violation of the international accounting standards, lack of investment property rating.

The Chairman replied that he will avoid such violations in the future.

Fourth Item

Unanimous approval on the financial statements and the profit & loss for the financial year ended on 31st December 2015.

Fifth Item

Unanimous approval on renewing of the approval of dealing with related parties during the financial year ended on 31st December 2015, And delegate the Board of Directors to conduct related transactions in the coming financial year.

Sixth Item

Unanimous approval on the proposal of the Board of Directors not to distribute the dividends of the financial year that ended on 31st December 2015.

Seventh Item

Unanimous approval on the proposal of the Board of Directors not to distribute remuneration to the Board of Directors for the financial year ended on 31st  December 2015.

Eighth Item

Unanimous approval to delegate the Board of Directors to purchase or sell not more than 10% of the amount of shares, in accordance with articles of Law No. (7) of 2010 and its implemented regulations and amendments thereto.

Ninth Item

Unanimous approval by all audiences to release the Board of director`s members and discharging of all is related to financial and legal actions for the financial year ended 31st  December 2015.

Tenth Item

Unanimous approval on the appointment of Mr. Anwar Al Qatami - Al Qatami &AL Aiban partners from Grant Thornton, And reappointment of Mr. Ali Abdulrahman AlHassawi From Roodle Middle East Office – Burqan International Accountants as auditors for financial year end on the 31st December 2016, and delegation of the Board of Directors in determining their fees.

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueMinistries complex third floor
1 File(s)
Jun 27, 2012 08:34:00 AM - ifa - Announces the resolutions of its Annual General Meeting held on 21/06/2012
Meeting Date/TimeJun 21, 2012 12:00:00 AMType of MeetingAnnual General Meeting
Net Profit/Loss(20,452,040) KDCash DividendN/A
Bonus ShareN/A
Announcements/ResolutionsApproved the Board of Directors Report for the financial year ended 31/12/2011. Approved the report of Messrs. auditors for the financial year ended 31/12/2011. Approved the financial statements (balance and profit and loss account) for the financial year ended 31/12/2011 Approved 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 distribute rewards members for the financial year ended 31/12/2011. Approved the deal with the related parties. Authorized the Board of Directors for a period not exceeding eighteen months to buy or sell the company for their shares in the range of 10% of the capital market value according to Law No. 132/1999. Approved the release party members of the board and been discharged discharge with respect to their behavior and legal responsibility for the financial year ended 31/12/2011. Set or reset the company's auditors for the financial year ended
Last Date For Dividend EntitlementN/AEx-Dividend DateN/A
Register Closing (Settlement) DateN/ATrading Suspension Date21/06/2012
Trading Resuming Date24/06/2012Dividends Payment Date
Payment EntityMeeting VenueJW Marriott Hotel - Al Salhya Hall - first floor
1 File(s)
Jul 13, 2011 11:10:00 AM - ifa - Announces the resolutions of its Extraordinary Meeting held on 24/05/2011
Meeting Date/TimeMay 24, 2011 11:45:00 PMType of MeetingExtraordinary Meeting
Net Profit/LossKD (27,591,538)Cash Dividend
Bonus Share
Announcements/Resolutions- Approved to amend Article no. (5) of the Memorandum of Association & Article no. (4) of the Articles of Association of the company & added a new Article
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueJW Marriott Hotel, Al Salheya Ballroom
Jul 13, 2011 11:07:00 AM - ifa - Announces the resolutions of its Annual General Meeting held on 24/05/2011
Meeting Date/TimeMay 24, 2011 11:00:00 AMType of MeetingAnnual General Meeting
Net Profit/LossKD (27,591,538)Cash Dividend
Bonus Share
Announcements/Resolutions- Approved BOD & auditors reports 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 delegate its BOD to enter into transactions - Discharged & released the BOD members from liabilities during the year ending 31/12/2010 - Approved to delegate its BOD to buy 10% of the company’s shares for 18 months - Elected new BOD members for the upcoming 3 years - Approved to re-appoint Grant Thoronton-Al Qatami & Al Aiban & Partners as well as Roodle Middle East – Ali Al Hasawi & Partners as auditors for the year 2011 & assigned the BOD to determine their remuneration
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueJW Marriott Hotel, Al Salheya Ballroom
May 24, 2010 11:01:00 AM - ifa - Announces the resolutions of its Annual General Meeting held on 17/05/2010
Meeting Date/TimeMay 17, 2010 11:30:00 AMType of MeetingAnnual General Meeting
Net Profit/LossKD -21,955,961Cash Dividend
Bonus Share
Announcements/Resolutions- Approved Directors and 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 - appointed auditors for the Financial Year 2010 and approved their fees – Approved not to distribute any profits
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date17/05/2010
Trading Resuming Date18/05/2010Dividends Payment Date
Payment EntityMeeting VenueG.W. Marriot Hotel - Kuwait
Sep 14, 2008 12:36:00 PM - ifa - Announces the resolutions of its Extraordinary Meeting held on 29/04/2008
Meeting Date/TimeApr 29, 2008 11:00:00 AMType of MeetingExtraordinary Meeting
Net Profit/LossKD 95,310,621Cash Dividend
Bonus Share60%
Announcements/Resolutions- Increase Company's paid up capital by issuing bonus shares and cause necessary amendments to Article 5 of the Company and Article 6 of Company’s Association
Last Date For Dividend Entitlement29/ Apr /2008 Ex-Dividend Date30/Apr/2008
Register Closing (Settlement) Date01/May/2008 Trading Suspension Date29/ Apr /2008
Trading Resuming Date30/Apr/2008Dividends Payment Date
Payment EntityMeeting VenueMarriot courtyard Hotel
Sep 14, 2008 12:33:00 PM - ifa - Announces the resolutions of its Annual General Meeting held on 29/04/2008
Meeting Date/TimeApr 29, 2008 11:00:00 AMType of MeetingAnnual General Meeting
Net Profit/LossKD 95,310,621Cash Dividend
Bonus Share60%
Announcements/Resolutions- Approved Directors and auditor’s report for the year ended 31/12/2007- Approved balance sheet and the profit & loss statements of the company for the year ended 31/12/2007 - Approved to distribute bonus shares of 60% -Approved to transact with related parties - Absolved the members of the Board of Directors and the auditors from responsibilities for the year ended 31/12/2007 - Approved to reword BOD appointed auditors for the Financial Year 2008 and approved their fees- Authorize BOD to buy back 10% company’s shares - Appointed BOD members for next three years.
Last Date For Dividend Entitlement29/ Apr /2008 Ex-Dividend Date30/Apr/2008
Register Closing (Settlement) Date01/May/2008 Trading Suspension Date29/Apr/2008
Trading Resuming Date30/April/2008Dividends Payment Date
Payment EntityMeeting VenueMarriot courtyard Hotel
Top ShareholdersLast Refreshed at:
  • 1 EN
    1

    Article of Association - 0001

Foreign Investments View all
National GCC Arab Foreign
Country of Origin Actual Permitted Actual Permitted Actual Permitted Actual Permitted As of Date:
Kuwait 98.27% 100% 0.82% 100% 0.53% 100% 0.38% 100% 20-01-2019
Showing Last 10 Corporate Governance Reports - IFA View all
No data could be found.
Showing Corporate Actions - IFA View all
May 12, 2008 - Cash Dividends
Year2008Corporate Action TypeCash Dividends
Last Date For Action Entitlement5/12/2008Ex-Dividend Date5/13/2008
Register Closing (Settlement) Date5/14/2008Trading Suspension Date5/12/2008
Trading Resuming Date5/13/2008Run (Effective) DateNot Available
Corporate Action DetailsDistribute 40% cash dividends as agreed in their AGM held on 12/05/2008.
May 12, 2008 - Bonus Shares
Year2008Corporate Action TypeBonus Shares
Last Date For Action Entitlement5/12/2008Ex-Dividend Date5/13/2008
Register Closing (Settlement) Date5/14/2008Trading Suspension Date5/12/2008
Trading Resuming Date5/13/2008Run (Effective) DateNot Available
Corporate Action DetailsIssue bonus shares in the ratio of (10%) activated as agreed at the Annual General Meeting held on 12/05/2008.
April 29, 2008 - Bonus Shares
Year2008Corporate Action TypeBonus Shares
Last Date For Action Entitlement4/29/2008Ex-Dividend Date4/30/2008
Register Closing (Settlement) Date5/1/2008Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) DateNot Available
Corporate Action DetailsIssue bonus shares in the ratio of (60%) activated as agreed at the Annual General Meeting held on 29/04/2008.
June 5, 2006 - Bonus Shares
Year2006Corporate Action TypeBonus Shares
Last Date For Action Entitlement6/5/2006Ex-Dividend Date5/6/2006
Register Closing (Settlement) Date6/7/2006Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) Date6/7/2006
Corporate Action DetailsIssue bonus shares in the ratio of (50%) activated as agreed at the Annual General Meeting held on 05/06/2006. Number of shares becomes 2860420
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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