Page 91 - JTC-Annual Report-2025-Eng

JTC Logistics Transportation & Stevedoring Company K.S.C.P
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2025
(All amounts are in Kuwaiti Dinars)

23. BOARD OF DIRECTORS’ MEETING AND ANNUAL GENERAL ASSEMBLY

The Board of Directors’ meeting held on February 16, 2026, proposed the following:

a) To distribute cash dividends of 28 fils per share amounting to KD 4,200,000.
b) To distribute bonus shares of 10% amounting to KD 1,500,000.

c) To distribute Board of Director’s remuneration amounting to KD 46,000 for the financial year
ended December 31, 2025.

These proposals are subject to the approval of the Shareholder’s Annual General Assembly.
d) The Board of Directors discussed the invitation to convene the Parent Company’s Extraordinary
General Assembly, for the purpose of increasing the Parent Company’s authorized share capital
to KD 20,000,000 divided into 200,000,000 shares with a par value of 100 fils per share. This
proposal is subject to Parent Company’s Extraordinary General Assembly.

The Shareholders’ Annual General Assembly held on April 15, 2025, approved the following:

a) The consolidated financial statements for the financial year ended December 31, 2024.
b) Board of Directors’ proposal to distribute cash dividends of 26 fils per share amounting to KD
3,900,000.
c) Board of Directors’ proposal to distribute Board of Director’s remuneration amounting to KD
41,000 for the financial year ended December 31, 2024.

The Shareholders’ Annual General Assembly held on April 16, 2024, approved the following:
a) The consolidated financial statements for the financial year ended December 31, 2023.

b) Board of Directors’ proposal to distribute cash dividends of 22 fils per share amounting to KD
3,300,000.

c) Board of Directors’ proposal to distribute Board of Director’s remuneration amounting to KD
36,000 for the financial year ended December 31, 2023.

24. CONTINGENT LIABILITIES, CAPITAL COMMITMENTS AND LEGAL CASES

The contingent liabilities and capital commitments for the Group is as follows:

(i) Contingent liabilities 2025 2024
Letters of guarantee 2,738,279 2,168,336

Letters of credit 2,611,462 1,122,733
5,349,741 3,291,069

88 JTC LogisTiCs TransporTaTion & sTevedoring Company K.s.C.p.