Dubai, UAE – Al Firdous Holdings PJSC, a prominent public joint stock company based in the United Arab Emirates, has announced its Annual General Assembly meeting scheduled for July 24, 2024. The meeting will be held at Boulevard Plaza 2, opposite Burj Khalifa, Dubai, and will also be accessible online for registered shareholders.
Founded in 1998 and formerly known as Manasek PJSC, Al Firdous Holdings has a rich history of managing and operating hotels and restaurants, particularly in the Kingdom of Saudi Arabia. The company is also known for organizing Hajj and Umra trips, making it a significant player in the hospitality and religious tourism sectors.
The upcoming General Assembly meeting will address several crucial agenda points:
- Hearing and approving reports from the Board of Directors and external auditors regarding the company's activities and financial position for the fiscal year ending March 31, 2024.
- Discussing and approving the company's budget and profit and loss statement for the same period.
- Reviewing the integrated report on corporate governance.
- Discharging the Board Members and external auditors from any liabilities for the financial year.
- Authorizing the Board to appoint representatives to attend future General Assembly meetings and vote on behalf of shareholders.
- Considering recommendations not to distribute any profits or provide bonuses and allowances to board members.
- Reappointing the current external auditors for the next fiscal year and determining their fees.
Notably, the Board has recommended not distributing any profits or giving bonuses to board members, a decision that reflects a cautious approach amidst the current economic climate. Shareholders are encouraged to participate either in person or via online registration and voting, ensuring broad participation in these critical decisions.
For those interested in the company's financial health, the detailed financial statements and reports will be accessible on the Dubai Financial Market website and at the meeting venue.
Given the strategic importance of the decisions to be made at this meeting, investors should closely monitor the outcomes. While the company's conservative financial strategy may indicate a cautious approach, it also suggests a focus on long-term stability and governance.
Recommendation: Based on the current information and the strategic decisions pending approval, it would be prudent for investors to hold their positions in Al Firdous Holdings PJSC. The company's focus on governance and financial prudence suggests potential stability, but investors should await the detailed outcomes of the General Assembly before making any major moves.
