Dimah Capitals’ AGM approves cash dividends of 5%

Dimah Capital held its AGM on Monday, 13/11/2017, with an attendance ratio of 87.6%, during which, the investors approved the company’s Board recommendation of distributing cash dividends for the fiscal year ended 31 December 2016 of 5%, equivalent to 5 fils per share, after approving the consolidated financial statements and profit and loss statement. The AGM appointed a new Board and approved most of its agenda items, including the recommendation of the remuneration of the Board Members’ and discharging them from their responsibilities, appointment of an auditor, and reappointment of the Fatwa and Sharia Supervisory Board and the External Sharia Auditor’s.

The Chairman, Nawaf Hussain Marafi, said that the year 2016 was exceptional for Dimah after adopting a new business model and implementing a new Board approved strategic plan. The Company has also attracted national individuals with distinctive qualifications and expertise, which was reflected in its performance. Dimah, along with its investors, have successfully compiled a group of investments amounting approximately USD 300 million in the US and Europe markets. The Chairman expressed the hope that the company will continue its efforts to focus on investing in distinct opportunities to maximize returns and increase profits for investors and shareholders.

Marafi added that the total revenues for the year ended 31 December 2016 amounted KD 2.6 million, an increase of 28% compared to 2015. Total expenses decreased by 22.5%, net profit reached KD 1.2 million and shareholders’ equity reached KD 19.5 million, an increase of 10%.

Marafi thanked all employees at Dimah Capital for their efforts to improve the company’s performance in light of the difficult operational conditions and economic challenges at the regional and international levels.

Hosam Nasser Al Muzaiel, Vice Chairman and Chief Executive Officer, said: “The Company’s new business model focuses on expanding investment in international real estate to achieve good returns and regular cash flows. We are working on being the first destination and the best choice in the region for clients wishing to invest in Sharia compliant international real estate investments. After intensive studies and tracking the movement of markets, investing in the markets of the United Kingdom and the United States generates good returns. We are now studying the expansion of new markets after the necessary studies and cooperation with a group of strategic allies”.

Al Muzaiel expressed his optimism about the continued growth and improvement of the company’s performance after it has a clear vision, identified action plan, and the determination to achieve sustainable growth. The Company has acquired a range of expertise and human resources in the different fields of its operations, and attracted several national young individuals to prepare leaders for the future to commensurate with the new phase and the regulatory instructions and rules of governance.

Dimah Capital is a subsidiary of Al Imtiaz Group, established in 2007 and investing in and managing multiple assets in the US and UK markets. The company works through an integrated technical team and a wide network of local and international relationships, which enables offering unique products of successful investments with attractive returns for individuals, companies and government entities.

Dimah Capital held its AGM on Monday, 13/11/2017, with an attendance ratio of 87.6%, during which, the investors approved the company’s Board recommendation of distributing cash dividends for the fiscal year ended 31 December 2016 of 5%, equivalent to 5 fils per share, after approving the consolidated financial statements and profit and loss statement. The AGM appointed a new Board and approved most of its agenda items, including the recommendation of the remuneration of the Board Members’ and discharging them from their responsibilities, appointment of an auditor, and reappointment of the Fatwa and Sharia Supervisory Board and the External Sharia Auditor’s.

The Chairman, Nawaf Hussain Marafi, said that the year 2016 was exceptional for Dimah after adopting a new business model and implementing a new Board approved strategic plan. The Company has also attracted national individuals with distinctive qualifications and expertise, which was reflected in its performance. Dimah, along with its investors, have successfully compiled a group of investments amounting approximately USD 300 million in the US and Europe markets. The Chairman expressed the hope that the company will continue its efforts to focus on investing in distinct opportunities to maximize returns and increase profits for investors and shareholders.

Marafi added that the total revenues for the year ended 31 December 2016 amounted KD 2.6 million, an increase of 28% compared to 2015. Total expenses decreased by 22.5%, net profit reached KD 1.2 million and shareholders’ equity reached KD 19.5 million, an increase of 10%.

Marafi thanked all employees at Dimah Capital for their efforts to improve the company’s performance in light of the difficult operational conditions and economic challenges at the regional and international levels.

Hosam Nasser Al Muzaiel, Vice Chairman and Chief Executive Officer, said: “The Company’s new business model focuses on expanding investment in international real estate to achieve good returns and regular cash flows. We are working on being the first destination and the best choice in the region for clients wishing to invest in Sharia compliant international real estate investments. After intensive studies and tracking the movement of markets, investing in the markets of the United Kingdom and the United States generates good returns. We are now studying the expansion of new markets after the necessary studies and cooperation with a group of strategic allies”.

Al Muzaiel expressed his optimism about the continued growth and improvement of the company’s performance after it has a clear vision, identified action plan, and the determination to achieve sustainable growth. The Company has acquired a range of expertise and human resources in the different fields of its operations, and attracted several national young individuals to prepare leaders for the future to commensurate with the new phase and the regulatory instructions and rules of governance.

Dimah Capital is a subsidiary of Al Imtiaz Group, established in 2007 and investing in and managing multiple assets in the US and UK markets. The company works through an integrated technical team and a wide network of local and international relationships, which enables offering unique products of successful investments with attractive returns for individuals, companies and government entities.