United Projects For Aviation Services K S C P : Annual general meeting outcome

Date: 23/05/2024

Ref: UPAC/COM/2024/027

To: Boursa Kuwait,	ن	ر	ةيلاملا قارولأل تيوكلا ةصروب /ةداسلا
،يمتحملا

،دـــــــــــــــــــــــــــعــــبو ةبيط ةيحت

2023 تمسيدر 31 فنةيهتنملا ةيلاملا ةنسلل ةيداعلا ةيمومعلا ةيعمجلا عامتجا جئاتن :عوضوملا

ي

. . . .ر ع ك م ش ةيوجلا تامدخلل ةدحتملا ع يراشملا ةكش

Subject: Results of the Annual Ordinary General Assembly Meeting for Year 2023

United Projects for Aviation Services Company KSCP

Pursuant to the provisions of Module ten - Disclosure and Transparency - of the Executive Regulations of Law No. 7 for year 2010 regarding the establishment of the Capital Markets Authority and regulating securities activities and their amendments, United Projects for Aviation Services Company KSCP would like to announce the results of its Annual Ordinary General Assembly Meeting (AGM) for the fiscal year ended on 31st December 2023, in accordance with the attached disclosure form.

ً

ةحئلالا نم - ةيفافشلاو حاصفلإا -شاعلا باتكلا ماكحأب لامع

قاوسأ ةئيه ءاشنإ نأشب 2010 ةنسل 7 مقر نوناقلل ةيذيفنتلا

ةكش ديفت ،امهتلايدعتو ةيلاملا قارولأا طاشن ميظنتو لاملا

جئاتنب )ع.ك.م.ش( ةيوــــجــلا تامدخلل ةدحتملا عــــيراشملا

31 ف ةيهتنملا ةيلاملا ةنسلل ةيداعلا ةيمومعلا اهتيعمج عاــمتجا

ي

ً

.قفرملا حاصفلإا جذومنل اقفو كلذو ، 2023 بمسيدر

ر

،ريدقتلاو ماتحلاا قئاف لوبقب اولضفتو

______________________________

لـــــيـــقـــع اللهدبع ةــــيداـــن

يذيفنتلا سيئرلاو ةرادلإا ســلــجــم ســيــئر بئان

Nadia Abdullah Akil

Vice Chairperson and CEO

Copy To CMA.	.لاملا قاوسأ ةئيه /ةداسلا لىإ ةخسن
Attachments:	:تاقفرملا
▪ Disclosure of material information form.	.ةيرهوجلا تامولعملا نع حاصفلإا جذومن	▪
▪ A statement of overall AGM outcome.	.ةيمومعلا ةيعمجلا جئاتن ةفاكب نايب	▪

ك.د 38,250,000 عوفدملا لاملا سار I 82992 يراجت لجس I تيوكلا 13131 ةافص 27068 ب.ص I [+965] 24727343 ف I [+965] 1833338 - 24349427 - 24331039 ت Tel [phone] I Fax [phone] I P.O. Box 27068 Safat 13131 Kuwait I C.R.N. 82992 I Paid Capital 38,250,000 K.D www.upac.com.kw

					Disclosure and Transparency
				Disclosure of Material Information Form
	Date		23 May 2024
	Name of the Listed Company		United Projects for Aviation Services Company KSCP
				United Projects for Aviation Services Company KSCP (the "Company") would
				like to report that, its Annual Ordinary General Assembly Meeting (AGM) for
				the fiscal year ended on 31st December 2023 has been held on Thursday, 23rd
				May 2024, at 01 pm, at the Company's head-office located at Kuwait
				International Airport - Car Parking Building - Mezzanine Floor. As well as
				through the electronic means approved by the Kuwait Clearing Company
				(KCC), with a total attendance rate of 96.808% of the Company's outstanding
				shares. Furthermore, all items on the AGM agenda have been approved (as
				per attached), including:
				▪	Approval of the annual consolidated Financial Statements for the fiscal
					year ended on 31st December 2023.
				▪	Approving the Board of Directors' recommendation not to distribute
					dividends for the fiscal year ended on 31st December 2023.
	Material Information		▪	Approving the appointment of Mr. Bader Adel Salem Alabduljader, from
			Al-Aiban,Al-Osaimi & Parteners "Ernst & Young", as the Company's
					Financial Auditor for the fiscal year ending on 31st December 2024, and
					authorize the Board of Directors to set their fees.
				▪	Approval of the election and appointment of the Company's board of
					directors' members for the next three-year term, as three members have
					been appointed by PWC Aviation Services Company (K.S.C.C), in addition to
					election of two members according to the following details:
					- Mr. Tarek Ibrahim Mohammad Al-Moosa, (Representative of PWC Aviation
					Services Company).
					- Ms. Nadia Abdullah Mohammad Akil, (Representative of PWC Aviation Services
					Company).
					- Mr. Hassan Bassam El-Houry, (Representative of PWC Aviation Services
					Company).
					- Mr. Zuhair Abdul-Mohsen Musallam Al-Zamel (Independent Member).
					- Mr. Majed Eissa Ahmad Al-Ajeel.
	Significant Effect of the material		No impact.
	information on the financial
	position of the Company

ك.د 38,250,000 عوفدملا لاملا سار I 82992 يراجت لجس I تيوكلا 13131 ةافص 27068 ب.ص I [+965] 24727343 ف I [+965] 1833338 - 24349427 - 24331039 ت Tel [phone] I Fax [phone] I P.O. Box 27068 Safat 13131 Kuwait I C.R.N. 82992 I Paid Capital 38,250,000 K.D www.upac.com.kw

Results of the Annual Ordinary General Assembly (AGM)

for the fiscal year ended on 31st December 2023

United Projects for Aviation Services Company KSCP (the "Company")

1. Approval of the report of the Board of Directors for the fiscal year ended on 31st December 2023 and endorse it.

ةيهتنملا ةيلاملا ةنسلل ةيداعلا ةيمومعلا ةيعمجلا جئاتن

2023 ترمسيد 31 ي ف

.ع.ك.م.ش ةيو جلا تامدخلل ةدحتملا ع يراشملا ةكرش

("ةكر ش لا")

ف ةيهتنملا ةيلاملا ةنسلل ةرادلإا سلجم ريرقت لىع ةقفاوملا مت	.1
ي
.هيلع ةقداصملاو 2023 بمسيدر	31

2. Approval of the independent Auditor's report for the fiscal year ended on 31st December 2023 and endorse it.

ةنسلا نع لقتسملا تاباسحلا بقارم ريرقت لىع ةقفاوملا مت .2

.هيلع ةقداصملاو 2023 بمسيدر 31 ف ةيهتنملا ةيلاملا

ي

3. Approval of the Corporate Governance Report, including the remuneration report, and the Audit Committee's Report for the fiscal year ended on 31st December 2023 and endorse them.

ً

،تآفاكملا ريرقت نمضتملا ةمكوحلا ريرقت نم لاك لىع ةقفاوملا مت .3

بمسيدر 31 ف ةيهتنملا ةيلاملا ةنسلا نع قيقدتلا ةنجل ريرقتو

ي

.مهيلع ةقداصملاو 2023

4. Approval of the annual consolidated Financial Statements for the fiscal year ended on 31st December 2023 and endorse it.

ةيلاملا ةنسلل ةعمجملا ةيونسلا ةيلاملا تانايبلا لىع ةقفاوملا مت .4

.اهيلع ةقداصملاو 2023 بمسيدر 31 ف ةيهتنملا

ي

5. Report that there were no irregularities observed by the regulators and caused sanctions on the Company during the fiscal year ended on 31st December 2023.

تعقو وأ ةيباقرلا تاهجلا اهتدصر تافلاخم دوجو مدعب رارقلإا .5

31 ف ةيهتنملا ةيلاملا ةنسلا للاخ ةكشلا لىع تاءازج اهنأشب

ي

.2023 بمسيدر

6. Approval of the transactions that have already been carried out with related parties for the fiscal year ended on 31st December 2023 and approving them. And approve the delegation of the Board of

Directors on any related parties' transactions that are planned during the coming fiscal year ending on 31st December 2024 and until the date of the

Company's annual general assembly for the fiscal year ending on 31st December 2024.

ر

تاذ فارطلأا عم تمت نلا تلاماعتلا ريرقت لىع ةقفاوملا مت .6

ي

ةقداصملاو 2023 بمسيدر 31 ف ةيهتنملا ةيلاملا ةنسلل ةلصلا

ي

ر

نلا تلاماعتلاب ةرادلإا سلجم ضيوفت لىع ةقفاوملاو ،هيلع

ي

ةمداقلا ةيلاملا ةنسلا للاخ ةلصلا تاذ فارطلأا عم متت فوس

ر

ةيعمجلا داقعنا خــــيرات نحو 2024 بمسيدر 31 ف ةيهتنملاو

ي

بمسيدر 31 ف ةيهتنملا ةيلاملا ةنسلل ةكشلل ةيداعلا ةماعلا

ي

.2024

7. Approval of the Board of Directors' recommendation not to distribute dividends for the fiscal year ended on 31st December 2023.

نع حابرأ عــــيزوت مدعب ةرادلإا سلجم ةيصوت لىع ةقفاوملا مت .7

.2023 بمسيدر 31 ف ةيهتنملا ةيلاملا ةنسلا

ي

ك.د 38,250,000 عوفدملا لاملا سار I 82992 يراجت لجس I تيوكلا 13131 ةافص 27068 ب.ص I [+965] 24727343 ف I [+965] 1833338 - 24349427 - 24331039 ت Tel [phone] I Fax [phone] I P.O. Box 27068 Safat 13131 Kuwait I C.R.N. 82992 I Paid Capital 38,250,000 K.D www.upac.com.kw

8. Approval of the BOD recommendation to deduct

10% (ten percent) of the Company's net profit, with an amount of KD 157,617 (one hundred fifty-seven thousand and six hundred seventeen Kuwaiti Dinars) for the statutory reserve account for the fiscal year ended on 31st December 2023.

ةشع( %10 عاطتقإب ةرادلإا سلجم ةيصوت لىع ةقفاوملا مت .8
ك.د 157,617 هردقو غلبمب ،ةكشلا حابرأ فاص نم )ةئاملاب
	ي
ر	ً
)نيوك رانيد شع ةعبسو ةئامتسو افلأ نوسمخو ةعبسو ةئام(
ي
31 ف ةيهتنملا ةيلاملا ةنسلل يرابجلإا طايتحلإا باسحل كلذو
ي	ي

.2023 بمسيدر

9. Approval of the recommendation to refrain from allocating payment of the Board of Directors' remuneration for the fiscal year ended on 31st December 2023.

ءاضعأ ةأفاكم فصرو صيصخت مدعب ةيصوتلا لىع ةقفاوملا مت .9

.2023 بمسيدر 31 ف ةيهتنملا ةيلاملا ةنسلا نع ةرادلإا سلجم

ي

10. Approval of the delegation of the Board of Directors to issue bonds in Kuwaiti Dinar or in any other currency it deems appropriate so long as it does not exceed the authorized limit by law or its equivalent in any foreign currency, including the authorization for the Board of Directors' to specify the type and duration of the bonds' nominal value, the yield on it, and date of adherence and all other terms and conditions, after obtaining the approval of the necessary regulatory authorities.

رانيدلاب تادنس رادصإب ةرادلإا سلجم ضيوفت لىع ةقفاوملا مت .10

ر

دحلا زواجتي لا امبو ةبسانم اهاري ىرخأ ةلمع يأب وأ نيوكلا

ي

ً

عم ،ةيبنجلأا تلامعلاب هلداعي ام وأ انوناق هب حصرملا صىقلأا اهتميقو اهتدمو تادنسلا كلت عون ديدحتب ةرادلإا سلجم ضيوفت اهطوش رئاسو اهب ءافولا دعومو ،اهيلع دئاعلاو ةيمسلإا

.ةصتخملا ةيباقرلا تاهجلا ةقفاوم ذخأ دعب كلذو ،اهماكحأو

1. Approval of the delegation of the Board of Directors to enter into borrowings and/or finance subsidiaries based on the interests of the Company and its subsidiaries and to ensure financing their current investments, during the coming fiscal year ending on 31st December 2024 and until the date of the Company's annual general assembly for the fiscal year ending on 31st December 2024.
2. Approval of the appointment of (Mr. Bader Adel Salem Alabduljader, from Al-Aiban,Al-Osaimi &
   Parteners "Ernst & Young") as the Company's financial auditor from the list of auditors approved by Capital Markets Authority (CMA), in compliance with the mandatory period of changing auditors, for the coming fiscal year ending on 31st December 2024 and authorize the Board of Directors to set their fees.

/ ر ليومت وأ و ضابقلااب ةرادلإا سلجم ضيوفت لىع ةقفاوملا مت .11

ً

اهتاكشو ةكشلا ةحلصم هيضتقت ام لىع ءانب ،ةعباتلا تاكشلا ةنسلا للاخ كلذو ،ةيراجلا امهتارامثتسا ليومت نامضو ةعباتلا

ر

خــــيرات نحو 2024 بمسيدر 31 ف ةيهتنملاو ةمداقلا ةيلاملا

ي

• ةيهتنملا ةيلاملا ةنسلل ةكشلل ةيداعلا ةماعلا ةيعمجلا داقعنا
  ي

.2024 بمسيدر 31

نم - رداجلادبعلا ملاس لداع ردب /ديسل( ييعت لىع ةقفاوملا مت .12

ً

ابقارم )"غنويو تسنرإ" مهاكشو ميصعلاو نابيعلا بتكم

ي

نقارمر ءامسأب ةدمتعملا ةمئاقلا نمض نم ةكشلا تاباسحل

ي

مازللإا بيغتلا ةدم ةاعارم عم ،لاملا قاوسأ ةئيه ىدل تاباسحلا

ي

31 ف ةيهتنملاو ةمداقلا ةيلاملا ةنسلل كلذو ،تاباسحلا نقارملر

يي

.مهباعتأ ديدحتب ةرادلإا سلجم ضيوفتو 2024 بمسيدر

ك.د 38,250,000 عوفدملا لاملا سار I 82992 يراجت لجس I تيوكلا 13131 ةافص 27068 ب.ص I [+965] 24727343 ف I [+965] 1833338 - 24349427 - 24331039 ت Tel [phone] I Fax [phone] I P.O. Box 27068 Safat 13131 Kuwait I C.R.N. 82992 I Paid Capital 38,250,000 K.D www.upac.com.kw

13. Approval of the granting of permission to corporate directors and their representatives and individual directors of the Board of Directors, and/or Chairperson or any of Executive Board Members or spouses or second degree relatives thereof, to have any direct or indirect interest in contracts and transactions concluded with the Company or in favor of the Company during the fiscal year ending on 31st December 2024 and thereafter until the date of the annual general assembly meeting for the fiscal year ending on 31st December 2024, in accordance with the provisions of the law and the organizing regulations.

ر

ييرابتعلاا ةرادلإا سلجم ءاضعلأ صيخبلا لىع ةقفاوملا مت .13

ةيذيفنتلا ةرادلإا ءاضعأ دحأ وأ سيئرل وأ/و ييعيبطلاو مهيلثممو ةحلصم هل نوكت نأ ةيناثلا ةجردلا نم مهــبراقأ وأ مهاجوزأ وأ

	ر
ةكشلا عم مبتر نلا تافصرتلا وأ دوقعلا ف ةشابم بغ وأ ةشابم
	ي	ي
2024 بمسيدر	31 ف ةيهتنملا ةيلاملا ةنسلا للاخ اهباسحل وأ
		ي

ةيلاملا ةنسلل ةيونسلا ةيمومعلا ةيعمجلا دقع يحل اهدعب امو

ً	31 ف ةيهتنملا
نوناقلا داومل اقفو كلذو ،2024 بمسيدر
	ي
	.ةمظنملا حئاوللاو

14. Approval of the delegation of the Board of	ةكشلا مهسأ عيبو ءاشب ةرادلإا سلجم ضيوفت لىع ةقفاوملا مت	.14
Directors to buy and sell a maximum of 10% (ten	ً
اقفو كلذو ،اهمهسأ ددع نم )ةئاملاب ةشع( %10 زواجتي لا امب
per cent) of the Company's shares as outlined in	ةيذيفنتلا هتحئلاو	2010 ةنسل )7(	مقر نوناقلا داومل
law No. 7 of 2010 and executive regulations and
amendments.			.امهتلايدعتو
15. Approval for the release and discharge the	مهتمذ ءاربإو ةرادلإا سلجم ءاضعأ فرط ءلاخإ لىع ةقفاوملا مت	.15
members of the Board of Directors from liabilities	ةنسلا نع ةيرادلإاو	ةيلاملاو ةينوناقلا مهتافصرتب قلعتي اميف
related to their legal, financial, and administrative		.2023 بمسيد 31 ف ةيهتنملا ةيلاملا
actions for the fiscal year ended on 31st December
	ر	ي
2023.

16. Approval of the election and appointment of the ةكشلا ةرادإ سلجم ءاضعأ ييعتو باختنا لىع ةقفاوملا مت .16

Company's board of directors' members for the	حئاوللاو	نوناقلا	ً	ر
next	three-year	term,	in accordance	with	the	ماكحلأ اقفو ،ةمداقلا	تاونس ثلاثلا ةبفل
س ويلبد ب ةكش لبق نم ءاضعأ ةثلاث ييعتب كلذو ،ةيذيفنتلا
provisions of the law and executive regulations, as
ي	ير
three members have been appointed by PWC	،نيوضع باختنا	لإ ةفاضلإاب )م.ك.م.ش( نابطلا تامدخل
Aviation Services Company (K.S.C.C), in addition to				:لاتلا ليصفتلا قفو
election of	two	members, according	to	the				ي
		ً		-
							س ويلبد ب ةكش نع لاثمم( سوملا دمحم ميهاربا قراط /ديسلا
following details:					ي	ير
							.)نابطلا تامدخل
- Mr.	Tarek	Ibrahim	Mohammad	Al-Moosa,
		ً
(Representative of PWC Aviation Services Company).				-
س ويلبد ب ةكش نع لاثمم( ليقع دمحم اللهدبع ةيدان /ةديسلا
							ي	ير
- Ms. Nadia Abdullah Mohammad Akil, (Representative				.)نابطلا تامدخل
of PWC Aviation Services Company).					ً
							تامدخل س ويلبد ب ةكش نع لاثمم( يروحلا ماسب نسح /ديسلا	-
- Mr. Hassan Bassam El-Houry, (Representative of PWC		ي	ير
Aviation Services Company).						.)نابطلا
- Mr. Zuhair Abdul-Mohsen Musallam Al-Zamel		.)لقتسم وضع( لمازلا ملسم نسحملا دبع بهز /ديسلا	-
(Independent Member).						.ليجعلا دمحا سىيع دجام /ديسلا	-
- Mr. Majed Eissa Ahmad Al-Ajeel.

ك.د 38,250,000 عوفدملا لاملا سار I 82992 يراجت لجس I تيوكلا 13131 ةافص 27068 ب.ص I [+965] 24727343 ف I [+965] 1833338 - 24349427 - 24331039 ت Tel [phone] I Fax [phone] I P.O. Box 27068 Safat 13131 Kuwait I C.R.N. 82992 I Paid Capital 38,250,000 K.D www.upac.com.kw