Statement and Details of Disclosure

Disclosure Time

Disclosure date

Meeting minutes No.

Disclosure No.

No.

The BOD Approval on the organization chart and all committees from the Board of Directors and all divisions of the company as January 2024 

04:35 PM

20/02/2024

01/2024

01/2024

1

The BOD Approval on the integrated report for the year 2024.

04:35 PM

20/02/2024

01/2024

02/2024

2

The BOD Approval on the Consolidated and Audited Financial Statements year ended 31-12-2023

02:35 PM

04/03/2024

02/2024

03/2024

3

The BOD Approval on agenda of the Ordinary and Extraordinary General Assembly, which it will held on 04/15/2024.

03:05 PM

17/03/2024

03/2024

04/2024

4

According to the minutes of the ordinary and extraordinary general assembly meeting for the year ending 12-31-2023 and held on 04-15-2024, the company’s data with the regulatory authorities was amended as follows:
First: Financial statements for the year ending 12-31-2023:
1. Mandatory reserve (1,702,005 KD)
2. Optional reserve (1,430,623 KD)
3. Retained earnings (7,835,525 KD)
Second: Auditor for the fiscal year ending on 12-31-2024:
Appointment of Mr. Ali Abdul Rahman Al-Hassawi from Rodel Middle East Office – Burgan as global accountants, and determining their fees in accordance with the Internal Audit Committee’s recommendation No. 10/2023.

03:05 PM

25/04/2024

04/2024

05/2024

5

The BOD Approval on the consolidated financial statements for the first quarter as of 03-31-2024.

03:10 PM

02/05/2024

05/2024

06/2024

6

The Capital Markets Authority approved the company’s request to renew a securities activity license – the activity of an investment portfolio manager – for a period of three years, renewable, starting from May 19, 2024.

03:25 PM

19/05/2024

—-

07/2024

7

Based on Resolution No. (56) of 2024 regarding the license application submitted by the company to practice securities activities, the Capital Markets Authority approved the issuance of a license to Sharq Investment Company for the activity of an investment advisor, starting from 05-28-2024, for a period of three years, renewable.

03:20 PM

28/05/2024

—-

08/2024

8

Sharq Investment Company announces the opening of nominations for membership in the Board of Directors in its new session for the next three years, for a period of two weeks, starting from June 13, 2024.

08:15 AM

13/06/2024

—-

09/2024

9

Sharq Investment Company announces the closing of nominations for membership of the Board of Directors in its new session for the next three years, at 04:00 pm on June 27, 2024. The committee has received 5 nomination applications, and the nominations committee will review the submitted applications and submit them to the Capital Markets Authority. To obtain initial approvals for applications.

04:15 PM

27/06/2024

—-

10/2024

10

Announcement of the resignation of ‘(INSIDER WATCH PERSON)’ – the company’s portfolio manager, Mr. Faisal Koya – with his last working day in the company being on 07/25/2024.

08:00 AM

04/07/2024

—-

11/2024

11

The BOD Approval on the consolidated financial statements for the second quarter as of 30-06-2024.

03:00 PM

14/07/2024

06/2024

12/2024

12

The Capital Markets Authority has issued approval for the company’s request to renew a license to a securities broker not registered on the stock exchange for three years, subject to renewal, as of 10/04/2024.

02:04 PM

16/07/2024

—-

13/2024

13

Implementing judgments issued against the company by handing over documents and statements of portfolio accounts to its clients.

05:05 PM

21/07/2024

07/2024

14/2024

14

Announcement of the date for the Ordinary General Assembly to be held on 10/21/2024 at 11:00 am at the company’s headquarters to discuss the items on the Ordinary General Assembly agenda as follows:
• Election of a new board of directors for the next three years (October 2024 to October 2027).

03:05 PM

06/10/2024

—-

15/2024

15

Issuance of Decision No. 25 of 2024 – Disciplinary Council in Case No. 23/2023 before the Capital Markets Authority, and the decision was as follows: –
First: Rejection of the complaint filed by the complainant Maitham Mahmoud Haider against the defendant, Sharq Investment Company.
Second: Notifying the Board of Commissioners of the Capital Markets Authority and interested parties of this decision.

01:30 PM

16/10/2024

—-

16/2024

16

The AGM was approved by the shareholders with an attendance rate of (85.58%) and 100% approval by the shareholders in attendance.

12:10 PM

21/10/2024

—-

17/2024

17

Disclosure of the Board of Directors No. (10/2024), in which the secret ballot was held and the board and committees were formed.

07:40 PM

21/10/2024

—-

18/2024

18

Announcement of the Extraordinary General Assembly scheduled to be held on Wednesday, November 13, 2024 at 11:00 AM to discuss the extraordinary agenda item (amendment to Article 13 of the Company’s Memorandum of Association and Articles of Association).

09:45 AM

29/10/2024

—-

19/2024

19

Disclosure of the results of the interim consolidated financial statements for the third quarter of 2024 and the review by the external audit office, as the net profits for the financial period ending on September 30, 2024 amounted to (1,768,905 KWD).

03:05 PM

05/11/2024

14/2024

20/2024

20

All terms on the agenda of the extraordinary general assembly were approved by the attendee’s shareholders with an attendance rate of (85.47%) and 100% approval by shareholders.

02:15 PM

13/11/2024

—-

21/2024

21

Issuance of a ruling on Appeals No. (40/41/43/44) in Case No. (32/2020) against the appellant is: Maytham Mahmoud Haji Haider, which is: Assignment of an expert, and its details are as follows:-
• What is pending before the court: Al-Qasr S. Commercial / 2 Markets.
• Our description of it: resumed.
The ruling was issued in it: rejecting and upholding the first-instance ruling in favor of the appellant in Case No. 32-2023, Commercial, Civil, Comprehensive Governance of 9 Capital Markets.

02:30 PM

14/11/2024

—-

22/2024

22

Regarding to the ruling issued by Appeal No. (40/41/43/44) in Case No. (32/2020), the respondent: Maytham Mahmoud Haji Haider.

02:30 PM

20/11/2024

—-

23/2024

23

Based on the Extraordinary General Assembly of Sharq Investment Company (K.S.C.) Closed held on 11/13/2024, it was approved to amend Article (13) of the Articles of Association and its amendments so that the text after amendment becomes as follows:
The company managed by a board of directors consisting of (5) five members, from whom the entity or entities that may delegate representatives to the board of directors shall appoint in proportion to the shares they own in the company. The general assembly shall elect the remaining members by secret ballot, provided the board includes one or more independent members who meet the conditions required by the regulatory authorities and who have the qualifications, experience and skills that are appropriate to the company’s activity.
The Ordinary General Assembly shall select them and determine their remuneration in accordance with the governance rules, provided that their number does not exceed half of the Board members. It is not required that the independent member be among the shareholders of the company, taking into account that the term of membership of the independent member ends with the end of the Board term for which he was selected. The term of membership is three years, renewable. If it is not possible to elect a new Board of Directors within the specified period. The existing Board shall continue to manage the company’s business until the reasons removed and a new Board of Directors is elected.

08:45 AM

24/11/2024

—-

24/2024

24

The Company’s Acquainted List has been updated as of Nov 2024.

07:00 PM

28/11/2024

15/2024

25/2024

25

The initial approval period for the license application submitted by the company and issued in Resolution No. (68) of 2024 to practice the activity of securities (collective investment scheme manager) has ended. Accordingly, the license application shall be considered null and void as of the date of expiry of the initial approval on 11/28/2024., the company shall immediately update amendments to the articles of association and bylaws by deleting the activity of collective investment manager in accordance with the procedures for that.

03:00 PM

02/12/2024

—-

26/2024

26

Disclosure of the announcement of the Extraordinary General Assembly meeting on December 30, 2024.
To discuss amending Article No. (5) of the Articles of Association and the Article No. (4) of the Articles of Association and its amendments related to the company’s purposes, which are:
• Deleting the activity of the collective investment manager, activity code 650220, from the current activities and purposes of the company.
In case of the meeting not held due to the lack of a quorum, the postponed meeting will be held on January 6, 2025.

03:00 PM

08/12/2024

—-

27/2024

27

Issuance of a ruling on the appeal in Case No. (96/2022) the appeal filed by Hassan Dahdari against East Investment Company, in the session of 19/12/2024, and heard before the court: Al-Qasr S Commercial / 2 Markets. The court’s ruling on the appeal was issued:As following The appellant received the components of his portfolio, As of contract for the preservation of investment assets dated 02/27/2008, represented by the appellant’s share certificate in the Danish company A&Z, at a rate of 16.8%, and the amount of (186,250 one hundred and eighty-six thousand two hundred and fifty euros) or its equivalent in Kuwaiti dinars, and the amount of (10,000 KWD ten thousand Kuwaiti dinars). And to pay him legal interest at a rate of 7% annually on the aforementioned amounts, starting from the date of filing the lawsuit on 03/17/2022 until full payment, and obligated her to pay the expenses for the two levels of litigation and an amount of fifty dinars for attorney fees.

05:30 PM

19/12/2024

—-

28/2024

28

The Extraordinary General Assembly were approved and ratified by 100% of the shareholders present, which is to amend Article No. (5) of the Articles of Association and Article No. (4) of the Articles of Association and its amendments related to the company’s activities by deleting the activity of a collective investment manager from the company’s activities.

03:15 PM

30/12/2024

17/2024

29/2024

29

Statement and Details of Disclosure

Disclosure Time

Disclosure date

Meeting minutes No.

Disclosure No.

No.

Disclosure of the organization chart and all committees from the Board of Directors and all divisions of the company as January 2023

04:35 PM

31/01/2023

01/2023

01/2023

1

Disclosure of the integrated report for the year 2023

04:35 PM

31/01/2023

01/2023

02/2023

2

Disclosure of Consolidated and Audited Financial Statements year ended 31-12-2022

02:05 PM

09/02/2023

02/2023

03/2023

3

Disclosure of the impact of events resulting from the spread of the novel coronavirus on the financial statements for the fourth quarter of 2022.

02:05 PM

09/02/2023

02/2023

04/2023

4

Disclosure of the company’s organizational structure chart, board committees and all company departments as of February.

03:05 PM

15/02/2023

03/2023

05/2023

5

Disclosure of updating the list of insiders in the company, as it is on the company’s website.

03:10 PM

28/02/2023

04/2023

06/2023

6

Disclosure of the purchase of a commercial complex located in Hawally for an amount of KD 3,150,000 and obtaining facilities from Kuwait Finance House and mortgaging the property in its favor under the facilities contract.

05:10 PM

06/03/2023

05/2023

07/2023

7

Issuance of a first-instance ruling against the company in Case No. (32/2020) (Commercial, Civil, Full Government/Capital Markets 9/ filed by Maytham Haider)
Issuance of Disciplinary Board Resolution No. (111/2022) of the Capital Markets Authority against the company, imposing warning on each of the members of the Board of Directors and imposing a financial penalty on the CEO, in his capacity as a member of the Board of Directors of Sharq Investment Company, in the amount of 2000 KD ( Two thousand dinars) for the two violations attributed to him regarding the engagement.”

03:35 PM

19/03/2023

06/2023

08/2023

8

The AGM for the year 2022 was approved, with an attendance rate of 85,620% of the company’s total shareholders, and the date for distributing cash dividends (4 fils) was set on 04/26/2023 to the shareholders registered in the company’s records on 03/27/2023.

03:35 PM

27/03/2023

07/2023

09/2023

9

Disclosure of Consolidated Financial Statements for the first quarter for the year 2023.

02:05 PM

04/05/2023

08/2023

10/2023

10

The Board approved the recommendation of the Investment Committee to own Al-Massa Real Estate Company W.L.L with all its shares for an amount of 1,850,000 KWD by taking bank facilities worth 1,700,000 KWD to finance the purchase process. The Board approved the request for facilities from Warba Bank.
2. Disclosure of the company’s updated strategic plan regarding practicing securities activities:
• Investment Advisor
• Collective Investment Manager
The initial approval from the regulatory authorities for the required activities will be issued later.

03:15 PM

28/05/2023

09/2023

11/2023

11

Disclosure of Consolidated Financial Statements for the second quarter for the year 2023.

02:35 PM

27/07/2023

11/2023

12/2023

12

Disclosure of the issuance of a disciplinary council decision issued by the Capital Markets Authority No. 16/2023 imposing a warning penalty for the company’s violation for the rules of module Sixteen of the Executive Regulations, provision of Article (4-7), noting that this violation is a procedural violation and not a substantive violation.

02:35 PM

07/09/2023

–

13/2023

13

Disclosure of Consolidated Financial Statements for the Third quarter for the year 2023.

03:20 PM

29/10/2023

15/2023

14/2023

14

THE GLOBAL ECONOMICS MAGAZINE has emerged Sharq Investment Company as winner of (Fastest Growing Investment Portfolio Management Company) for the year 2023 .

02:00 PM

29/10/2023

–

15/2023

15

The Capital Markets Authority granted initial approval to Sharq Investment Company to license the activity of an investment advisor.

This approval is valid for a period of six months, subject to renewal, starting on 10/31/2023 and ending on 04/30/2024, in order to meet the standards determined by the Authority.

02:00 PM

31/10/2023

–

16/2023

16

The Capital Markets Authority has granted preliminary approval to Sharq Investment Company to license the activity of a collective investment manager. This approval is valid for a six months, renewable, starting from 11/30/2023 and ending on 05/30/2024, in order to meet the criteria set by the Authority and renewable for a 6 months to meet the criteria.

02:00 PM

30/11/2023

–

17/2023

17

Disclosure of the transfer of ownership of the property located in the Khaitan area – Block 9 – Parcel 139 – which has a value of 1,950,000 KD (one million nine hundred and fifty thousand Kuwaiti dinars )as in the company’s books on 9-30-2023, which is not mortgaged value has been paid in full, and the ownership has been transferred to Afaq Real Estate Company (subsidiary company).

04:00 PM

05/12/2023

17/2023

18/2023

18