Mezzan Holding Holds 20th Annual General Meeting

Mezzan Holding Holds 20th Annual General Meeting

Kuwait — Mezzan Holding KSCP, one of the largest manufacturers and distributors of food, beverage, FMCG, and healthcare products in the region, held its 20th Annual General Meeting (AGM) of Shareholders today in Kuwait. The shareholders approved the Board of Directors' recommendation to distribute cash dividends of 18% of the nominal value of the share (18 fils per share) representing 50% of the profit, and distribution of treasury shares at a rate of 2% (two shares for every 100 shares held by investors).Shareholders also approved the board's 2020 remuneration, a total amount of KD100,000, and agreed to not transfer the compulsory reserve and the voluntary reserve, given that they exceed half of the company's issued capital. The meeting also authorized the buying, selling, or disposing of the company's shares that do not exceed 10% of the number of shares by the Board of Directors. This is in accordance with the controls and conditions stipulated by the law, regulations, decisions, and instructions of the supervisory authorities, provided that this authorization continues for a period of eighteen months from the date of its issuance.Mezzan Holding Executive Vice Chairman Mohammad Jassim Al Wazzan said: “Last year was a challenging year for regional and