| موافق | ممتنع | غير موافق | |
|---|---|---|---|
| Accepting the current board's resignation | 76.42% | 23.58% | - |
| Electing the 2026-2029 board | 76.30% | 23.70% | - |
National Consumer Holding Company filed a supplementary disclosure with Boursa Kuwait on 8 November 2026. It attached the minutes of its ordinary general assembly together with the quorum and voting reports, and noted that shareholders or their proxies raised remarks and reservations that were recorded in the minutes of the postponed meeting.
The assembly could not go ahead as first scheduled on Thursday 29 October 2026 at the company's head office in Sharq, because the legal quorum was not met: attendance was 48.724% of shareholders. The meeting was moved to Thursday 5 November 2026. The first session was attended by Vice Chairman and CEO Ahmed Al-Qamar and by Fahad Al-Hudaib for the Kuwait Central Securities Depository.
The postponed assembly met on 5 November 2026 with shareholders holding 146,171,930 of 300,000,000 shares present (48.724%). Ahmed Al-Qamar attended, as did Khalid Abdullah Al-Omari for the Kuwait Central Securities Depository. Al-Qamar, who chaired the meeting, declared the legal quorum for the postponed assembly met.
The assembly accepted the resignation of the current board members: Sheikh Ahmed Ali Al-Sabah, Ahmed Al-Qamar, Ahmed Tareq Al-Ghanim, and Sanatco International General Trading Co., represented by Mubarak Ali Al-Hamdan. The vote was 76.42% in favour, 23.58% abstaining and no objections. The minutes also note that the independent member Al-Jabriya International Real Estate Co., represented by Ruqaya Mahdi Haidar, lost its seat after missing three consecutive board meetings without an excuse. This was disclosed on Boursa Kuwait on 31 August 2026.
Wafra International Investment's representative handed the chairman and the assembly secretary a letter dated 29 October 2026. Wafra acts as the body charged with managing funds and assets seized under Attorney General decision No. 433 of 2026, issued on 3 September 2026, and later decisions. It also acts under an agreement signed with the Ministry of Justice on 1 September 2026 and under proxies from the shareholders covered by the decision, who hold 33,483,718 shares in total.
In the letter, Wafra abstained, with all the shares it represents under those proxies, from the vote electing the 2026-2029 board, for every candidate. It also placed a reservation on the current independent board member Ruqaya Mahdi Mahmoud Haidar, who is among the persons covered by the Attorney General's decision. Under that reservation, accepting the current board's resignation does not discharge her, and may not be read as discharging her, from liability for her actions and decisions while she held the seat, and all rights of the company and its shareholders are preserved. Any remuneration or dues owed to her by the company are to be withheld and paid only with Wafra's written approval, in line with the decision. Wafra asked that the abstention and the reservation be recorded explicitly in the minutes, with the number of abstaining shares and the name of the member concerned.
The assembly elected a new board for 2026-2029: Sheikh Ahmed Ali Al-Sabah, Ahmed Al-Qamar, Ahmed Tareq Al-Ghanim, Nasser Mohammad Al-Qaisi as independent member, and Sanatco International General Trading Co. The vote was 76.30% in favour, 23.70% abstaining and no objections.
The company said the development has no financial impact.
