KUWAIT CITY, Nov 23, (RTRS): A Kuwait court will deliver its verdict on the validity of telecom operator Zain’s April annual general meeting on Dec 28, a court official said on Wednesday.
In September, a court upheld a case brought by former board member Sheikh Khalifa Ali Al-Khalifa Al-Sabah, who opposed the process to elect the board. Sheikh Khalifa was not re-elected.
The court had been slated to rule on Tuesday on an appeal from Zain, challenging that ruling.
Shareholders at the meeting elected a new board including a top executive from Kuwait’s family conglomerate Kharafi Group, and approved a $3 billion dividend for 2010. The dividend has already been distributed.