Kamco Invest holds Extra-ordinary General Meeting on 27 January 2021
Discuss amedments on the articles of association related to the Company's business activities.
Approve the amendments to article 5 of the Memorandum of Association and article 4 of the Articles of Association pertaining to the business activities as follows:
Article before amendments:
- Investment in the real estate, industrial and agricultural sectors, and other economic sectors, through participation in incorporation of the specialized companies or purchase shares/stocks or bonds of these companies in different sectors.
- To participate in incorporation or partial ownership of the Companies in different sectors.
- To manage funds of the Public and Private Firms/Establishments and to invest these funds in different economic sectors, including management of the financial and realty portfolios.
- Presentation and preparation of technical, economical and appraisal studies and consultations and studying projects - connected to investment & preparation of their necessary studies for corporations and companies, provided that the necessary conditions should be fulfilled by whoever practices this activity.
- Broking in operations of lending and borrowing.
- To carry out the functions of the Managers of Issues of the bonds that are issued by the Companies and bodies and functions of the Investment Trustees.
- Financing and Broking in operations of international trade.
- To provide loans to others, subject to observance of the rules of financial safety in granting loans, while maintaining the continuity of the safety for the financial position of the Company according to the conditions, rules and limits which are laid down by the Central Bank of Kuwait (CBK).
- Dealing and trading in foreign money market and precious metals market inside and outside Kuwait.
- Operations for trading in securities like purchase and sale of shares/stock and bonds of the local government and international Companies and Authorities.
- Undertaking all services that help in development and buttressing stock exchange and money market's capability in Kuwait and meeting its needs, all this within limits of the law and whatever procedures and instructions issued from the Central Bank of Kuwait.
- To establish and manage the investment funds of all types according to the law.
The company may have interest to participate in any way with the bodies that carry out similar activities or in which will help her in achieving its objective in Kuwait or abroad. It may establish, participate, or buy such bodies.
Article after amendments:
- Investing in various sectors, including financial, industrial, real estate, agricultural, services, etc., directly or through investing in existing companies, or establishing companies related to these activities or owning projects to meet this objective.
- Investment Portfolios Manager.
- A median in lending and borrowing operations.
- Subscription agent.
- Providing loans to others, taking into consideration the principles of financial soundness in granting loans, while maintaining the continuity of the integrity of the financial position of the company in accordance with the terms, rules and limits set by the Central Bank of Kuwait.
- Dealing and trading in foreign exchange markets and the precious metals markets inside and outside Kuwait in favor of the company or on behalf of its clients.
- Buying and selling securities of local and international companies and government agencies for the company’s account.
- Manager of a collective investment schemes
- Owning real estate and movable assets necessary to achieve its objectives in favor of the company or on behalf of its clients.
- Securities broker not registered in the stock exchange.
- Investment advisor
- Market maker
- Financing import and export operations, either by direct financing or by accepting transfers drawn on the company for short term.