We are pleased to inform you that the Ordinary General meeting of Ithmaar Holding B.S.C. was held today 29 August 2019 with a quorum of 55.169%. The shareholders approved the following:

• The minutes of the Ordinary General Meeting of the Company held on 25 March 2019.
• The voluntary delisting of the Company’s shares from Boursa Kuwait.
• To authorize the Board of Directors to appoint any person from the management or third party, as its attorney to act on behalf of and represent the Company before any governmental authority

1. The minutes of the Ordinary General Meeting of the Company held on 26 of March 2018 received and approved.

2. The Directors’ Report on the Company’s business and financial position for the financial year ended 31 December 2018 discussed and approved.

3. The Sharia Supervisory Board’s Report on the Company’s business for the financial year ended 31 December 2018 Received.

4. The External Auditors’Report on the Company’s Consolidated Financial Statements for the financial year ended 31 December 2018 received.

5. The Company’s Consolidated Financial Statements for the financial year ended 31 December 2018 discussed and approved.

6. The transactions during the financial year ended 31 December 2018, with any related parties or major shareholders, as stated in Note No. 40 of the financial statements in accordance with Article 189 of the Bahrain Commercial Companies Law No. 21 for the year 2001 and its amendments (“BCCL”), ratified and authorized, as applicable,.

7. The expenses paid or will be paid to some of the Directors in relation to advisory services provided to the Company during the financial year ended 31 December 2018, in accordance with Article 188 of the BCCL, subject to the approval of the Ministry of Industry,Commerce and Tourism (details in the explanatory memorandum), reviewed.

8. The Board of Directors report on the Company’s Corporate Governance for the financial year ended 31 December 2018 and the Company’s compliance with the requirements of the Central Bank of Bahrain (“CBB”) discussed and approved.

9. The Board of Directors of the Company discharged from any liability resulting from the performance of their respective duties during the financial year ended 31 December 2018.

10. New members of the Board of Directors of the Company for the next three (3) years were appointed / elected,subject to the approval of the CBB. as follows:

�       H.R.H. Prince Amr Bin Mohammed Al Faisal Al Saud

�       Tanku Yaagob Khyra

�       Zamil Abdullah Al Zamil

�       Abdelhamid Mohamed Aboumoussa

�       Mohamed Abdulrahman Mohamed Husain Bucheeri (appointed)

�       Abdulelah Ebrahim Mohamed Al Qasimi

�       Amani Khalid Bouresli

�       Mohamed Abdullah El Khereiji (appointed)

�       Elham Ebrahim Abdulla Hasan

�       Omar Abdi Ali

11. New members of the Sharia Supervisory Board of the Company appointed.

12. The aggregate benefits and remuneration of the members of the Sharia Supervisory Board for the financial year ending 31 December 2019 reviewed and approved.

13. The Board of Directors’recommendation was adopted to re-appoint PricewaterhouseCoopers ME Limited as the external auditors of the Company for the financial year ending 31 December 2019, subject to the approval of the CBB, and authorized the Board of Directors to determine their remuneration accordingly.

14. No business matters raised in accordance with Article 207 of the BCCL.

1. Read and approved the minutes of the previous Ordinary General Meeting of the Company heldon 30 March 2017.

2. Discussedand approved the Directors’ Report on the Company’s business and financial positionfor the financial year ended 31 December 2017.

3. Read theSharia’a Supervisory Board’s Report on the Company’s business for the financialyear ended 31 December 2017.

4. Listenedto the External Auditors’ Report on the Company’s Consolidated Financial Statementsfor the financial year ended 31 December 2017.

5. Discussed   and approvedthe Company’s Consolidated Financial Statements for the financial year ended 31December 2017.

6. 1. Ratifiedand authorized the transactions that took place during the financial year ended31 December 2017, with any related parties or major shareholders, as mentionedin Note No. (39) of the financial statements in line with Article 189 of theBahrain Commercial Companies Law. 
   2. Reviewed the expenses paid or will bepaid to some of the Directors during the period from 2013 to 2017 againstadvisory services, in line with Article 188 of the Bahrain Commercial CompaniesLaw (details in the explanatory memorandum)

7. Discussedand approved the report on the Company’s Corporate Governance for the financialyear ended 31 December 2017 and the Company’s compliance with the requirementsof the Central Bank of Bahrain (“CBB”).

8. Absolvedthe members of the Board of Directors of the Company from any liabilityresulting from all actions taken during the financial year ended 31 December2017.

9. Ratifiedthe appointment of Sheikh / Mohamed Abdulla El Kheriji and Mrs Elham Ebrahim AbdullaHassan as directors on the Board of  Directors.

10. Approvedthe Board of Directors’ recommendation on re-appointment of the External Auditors,PricewaterhouseCoopers for the year 2018, subject to CBB approval, and to authorizethe Board of Directors to determine their remuneration.

11. Nobusiness matters raised in accordance with Article 207 of the BCCL.