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Its generality approved the distribution of a cash dividend of 24% and free shares of 14.4%
The Extraordinary General Meeting of ACICO decided to increase the capital of the company from 13,000,000 to 14,866,136 dinars, worth 1,866,136 dinars, through the distribution of free shares.
Associate of the ACICO group, ACICO Construction Company announced a net profit of 9.6 million KD for the year ended 31/12/2018 at the Ordinary and Extraordinary General Meeting held on Monday. The attendance was 96.9%.
In a press release issued yesterday, the company approved the recommendations of the board of directors to distribute cash dividends corresponding to 23.92% of the face value of the share (equivalent to 23.9 threads). per share) of a total value of 3,110,227 KD to shareholders of record at the date of the AGM. In addition to the distribution of the free shares, 14.4% of the paid-up capital (ie 14.4 shares for 100 shares) worth 1,866,136 Jordanian dinars for the shareholders registered in the company's register at the date of the Assembly, the board of directors being authorized to act in case of fracture.
The Extraordinary General Meeting approved the capital increase from 13,000,000 JD to 14,866,136 JD to 1,866,136 JD through the distribution of free shares to shareholders of record at the date of the General Meeting. of the Company and the Board of Directors in order to remedy any fractures.
It was also agreed to amend the text of Article 6 of the Articles of Association and Article 5 of the Articles of Incorporation to read as follows: "The capital of the company was fixed at 14,866,136 dinars spread over 148,661,360 shares with a par value of 100 wires per share. "
ACICO Construction President Ahmed Al-Khaled said that in recent years, ACICO Construction has been able to occupy a leading position in the construction sector by offering innovative, practical solutions. and sustainable to serve the industrial, construction and residential sectors. This has contributed to the achievement of satisfactory financial results in recent years, particularly in 2018.
Al-Khalid pointed out that ACICO is characterized by strong leadership and close relations with Gulf financial institutions, making it one of the largest mature entrepreneurs in the region, working on all types mega projects such as skyscrapers, multipurpose real estate projects and mega residential complexes.
Al-Khalid said that the Ordinary General Assembly had discussed the deduction of 10% of the statutory profit on profits of 972,515 KD. The Board also discussed the idea of listing the shares of the company on the Kuwait Stock Exchange and authorizing the board of directors to follow all procedures in accordance with decision.
Growth and increased productivity
Al-Khalid stated that the company is currently pursuing a sales policy aimed at increasing productivity in order to successfully meet the needs of the market, reflecting sales growth and increased annual revenues, in line with the company's efforts to achieve strong and sustainable growth in the coming years. A local group that seeks to achieve regional and international leadership and thus contribute to the promotion of Kuwait's position in the fields of industry and export, while placing it on the investment map modern industrialists thanks to the solid and stable foundations adopted by the group.
First class services
Al-Khalid said that ACICO Construction had been classified as a construction company by the Central Tendering Committee in Kuwait, as well as by all the major GCC regional supervisors, offering a variety of services in this sector, including project management and construction services. Engineering and supply of materials, procurement and subcontracting, maintenance of civil engineering works, electricity and hygiene, heating, ventilation and air conditioning, as well as intelligent parking solutions ACICO.
Best customer service
He emphasized ACICO's commitment to respect professional ethics and to not compromise standards in order to maintain the highest levels of safety and quality in strict compliance with the constraints of time and effort. budgets, which encourages them to develop the capabilities and talents of their employees to enable them to provide the best service. For the customers
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