Mubasher: The board members of Human Soft Holding waived their annual remuneration for the fiscal year (FY) 2019 totalling KWD 200,000 or KWD 40,000 for every member that was approved by the ordinary general meeting (OGM) on 23 March.
The decision reflects the members’ sense of responsibility towards the company, shareholders, and clients amid the coronavirus pandemic and its consequences, according to an official statement to Boursa Kuwait on Monday.
Accordingly, the company’s balance will increase by KWD 200,000.
Last March, the OGM cancelled the previously recommended cash dividend and bonus shares distribution for 2019 in a bid to support the company's position in facing the impact of the coronavirus outbreak.
It is noteworthy that by the end of last year, the Kuwaiti firm’s profits increased by 14% to KWD 35.87 million ($118.23) from KWD 31.49 million ($103.79 million) in 2018.
