The ordinary general assembly of Arabic Digital Holding Company, held on the 8th of this month, approved the board of directors' recommendation to distribute cash dividends at 30% of the nominal value per share, amounting to 30 fils per share for the financial year ending December 31, 2023, to shareholders registered in the company’s records according to eligibility criteria.

Vice Chairman and CEO Fahad Al-Dosari confirmed that the approved cash distributions for shareholders amount to KD 6.135 million, based on their ownership in the company’s capital.

Asset Growth

Al-Dosari revealed that the company’s assets have grown to KD 28.613 million, while shareholders' equity reached KD 28.236 million, reflecting significant growth.

He noted that "Arabic" achieved part of its strategic goals through a carefully considered investment model applied with a medium to long-term outlook, although there are opportunities requiring organized entry and exit decisions accompanied by substantial returns.

Assembly Agenda

During press remarks following the general assembly, which he chaired, Al-Dosari mentioned that the assembly approved all agenda items, including the board's report and the financial auditor’s report, along with other proposals.

Shareholders also approved authorizing the board and executive management to acquire shares and stakes in listed and unlisted companies, aligning with Arabic's future directions and enabling beneficial expansions.

Business Approach

Al-Dosari emphasized that the company’s approach is based on several key requirements and criteria, including:

• Focusing on generating sustainable profits through its subsidiaries to ensure shareholders receive favorable returns in the coming years.
• Selecting investment opportunities aligned with the general assembly’s vision according to the approved plan.
• Replacing non-performing assets with revenue-generating ones to enhance shareholders’ equity.
• Forming strategic partnerships with specialized entities locally and regionally for viable projects.
• Considering geopolitical risks and developments when selecting investment opportunities in different markets.

Company Objectives

Al-Dosari affirmed that the company's objectives are clear, as Arabic aims to utilize financial surpluses through stock and bond trading, securities investments, and real estate ownership, providing activity diversification.

The company’s general assembly approved a 30 fils cash distribution per share according to eligibility criteria.

He explained that the company and its subsidiaries now cover many sectors, including real estate development, shareholding in operational companies, and logistical services through a specialized delivery arm.

Regarding the company's expansions and current projects, he highlighted Arabic’s primary focus on the Kuwaiti market while noting its presence in major regional markets.

Al-Dosari: We carefully select viable investment opportunities to strengthen shareholder rights.

He added that the company has a good presence in the Turkish market through partnerships and has allocated funds under conditions protecting it from currency and exchange rate fluctuations.

Safe Environment

Al-Dosari indicated that Saudi Arabia is a key market for the company, where several opportunities are being explored to select the most suitable ones, given its favorable investment climate.

The company's careful selection of profitable operational activities is helping achieve its goals amid continuous growth. He affirmed that Arabic's strategy of cautious investment selection significantly contributed to achieving target profits.

Al-Dosari: We operate under a strategic policy based on a comprehensive set of financial and technical criteria.

He anticipated that Arabic Holding's assets would double over the next two years through ongoing quality projects and investments.

Listing Plans

Regarding the company’s listing plans, Al-Dosari explained that Arabic shares have been traded on the OTC market since November 29 and that efforts are underway to list on the main market soon, having met the required conditions.

He stressed the importance of listing for expansion locally and regionally and mentioned that the company is working on meeting regulatory and legal requirements as per Law No. 7 of 2010 concerning the Capital Markets Authority and listing rules applied in the stock exchange.

Al-Dosari: The company considers geopolitical developments in its local and regional expansions.

He highlighted Arabic's interest in expanding, supported by expertise capable of advancing the idea both locally and regionally, and noted the continuous support from high-quality shareholders enabling long-term positive achievements.

Cash Distributions

Al-Dosari noted that cash distributions approved by the general assembly, which had over 86% attendance, amount to 30 fils per share, with the following timeline: the shareholding date is Sunday, June 30, eligibility date is Wednesday, July 3, and dividend distribution is scheduled for Sunday, July 14.

Al-Dosari: Arabic is active in key markets, including Turkey, through strategic partnerships.

He emphasized the importance of continued efforts to enhance shareholder rights and achieve profit rates that meet aspirations.

Business Growth

Al-Dosari stated that the board's strategy focuses on growing Arabic Holding's business and existing projects through its subsidiaries and affiliates to achieve exceptional revenues in the coming years. The company aims to diversify its income sources and focus on various economic sectors.

Acknowledgment and Appreciation

Al-Dosari expressed gratitude to the company's shareholders, board members, and sector officials for their ongoing support. "On behalf of the board, I extend my sincere thanks to all shareholders and to local regulatory and supervisory authorities for their continuous cooperation with the company," he said.