(Manama, Kingdom of Bahrain): Bahrain Aluminium Extrusion Company B.S.C. (Closed) (“Balexco” or the “Company”) has announced the outcomes of its Annual and Extraordinary General Meetings (AGM and EGM) held at the Company’s headquarters in the Sitra Industrial Area. The meetings were attended by the Chairman and members of the Board of Directors, the Executive Management, shareholders, and representatives of relevant entities.

During the AGM, shareholders approved the minutes of the previous meeting held on 6 April 2025. They reviewed and approved the Board of Directors’ report on the Company’s operations and financial position for the fiscal year ending on 31 December 2025, along with the external auditors’ report and the Company’s financial statements for the same fiscal year.

5% Cash Dividend and Bonus Share Distribution for Shareholders

The AGM approved the Board of Directors’ recommendation concerning the distribution of profits for the fiscal year ending on 31 December 2025, totalling BD 1.166 million. It was decided to allocate BD 117,000 to the legal reserve, equalling 10% of profits, and to distribute cash dividends to shareholders at a rate of 5% of paid-up capital, amounting to BD 465,000. Additionally, bonus shares will be distributed at a rate of 5% of paid-up capital, equivalent to BD 465,000. An amount of BD 49,000 will be transferred to retained earnings.

These distributions reflect the company's stable performance during 2025, its sustained profitability, and growth of sales for the fourth consecutive year, demonstrating its strong business model and capacity to generate added value for shareholders while maintaining a solid financial position to support future growth and development plans.

The AGM also approved the allocation of BD 64,000 as remuneration for the Board of Directors for the fiscal year ending on 31 December 2025, and ratified the 2025 Corporate Governance Report, affirming compliance with the Corporate Governance Code issued by the Ministry of Industry and Commerce. Transactions conducted with relevant parties during the fiscal year were also ratified in accordance with Article 189 of the Commercial Companies Law.

AGM resolutions included discharging the Board of Directors from liability for their actions during the fiscal year ending on 31 December 2025, and electing eight members to the new Board for the 2026–2028 term. Five members were appointed and three were elected. Appointment or reappointment of external auditors for 2026 was also approved, with authority granted to the Board of Directors to determine their fees.

The EGM then convened, where shareholders approved the minutes of the previous meeting held on 27 June 2024. They approved a 5% increase in the Company’s issued and paid-up capital through the issuance of 4,653,694 bonus shares to shareholders, each with a nominal value of 100 fils, by transferring BD 465,369 from net profits of the fiscal year ending on 31 December 2025 into share capital.

Accordingly, the Company's total issued and paid-up capital after the increase will be BD 9.773 million, distributed across 97,727,579 shares, with a nominal value of 100 fils per share.

Plan to Transform into a Public Shareholding Company and List Shares on Bahrain Bourse

The EGM also approved the plan to transform Balexco from a closed Bahraini shareholding company into a public shareholding company and list its shares on the Bahrain Bourse. This will proceed after the Board completes the necessary technical, financial, and legal studies, confirming the feasibility of the process and ensuring its alignment with the best interests of the company and its shareholders.

The EGM granted the Board of Directors full authority to complete and approve the technical, financial, and legal studies pertinent to the transformation and listing, and to make the final decision on whether to proceed with the process or abandon it if it proves unfeasible. The Board was also authorised to determine the timing, mechanism, and conditions of the listing, and to appoint legal and financial advisors, issue managers, and any other parties necessary for this process.

Chairman of the Board: Meeting Resolutions Reinforce Growth and Added Value Creation for Shareholders

On this occasion, Mr. Jassim Mohammed Seyadi, Chairman of the Board, commented, “The resolutions passed by the Annual and Extraordinary General Meetings reflect shareholders’ confidence in the Company’s growth trajectory and its ability to achieve sustainable value. In 2025, Balexco continued to enhance its operational and financial performance, supported by extensive experience in aluminium extrusion and its position as a leading Bahraini industrial enterprise. The approval of distributing cash dividends and bonus shares underscores our commitment to rewarding shareholders for their continued trust while maintaining a strong financial base to enable investment in operations, production and competitive capabilities.”

He added, “The plan to transition into a public shareholding company listed on the Bahrain Bourse marks a pivotal step for Balexco’s future, offering opportunities to enhance transparency, broaden our shareholder base, and increase long-term value. The Board will proceed with careful consideration of this step, fulfilling the necessary technical, financial, and legal requirements to ensure the most appropriate decision is made in the best interests of the company and its shareholders. Looking ahead, we aim to build on our achievements and strengthen Balexco’s role as a competitive Bahraini industrial leader in regional and international markets.”

The meetings concluded with affirmation of Balexco’s commitment to continuous business development, enhancing operational efficiency, and strengthening governance and transparency principles to drive its aspirations and contribute to the industrial sector in the Kingdom of Bahrain.

About Bahrain Aluminium Extrusion Company (Balexco):

Established in 1977, Bahrain Aluminium Extrusion Company B.S.C. (Closed) “Balexco” is the first aluminium extrusion plant in the Arabian Gulf. It specialises in producing high quality extrusions and systems, used mainly as aluminium doors, window frames and other products that are required in the construction industry.

Balexco has established its position as a regional industrial leader, developing its production capabilities and expanding its presence in the GCC, the Middle East, and West Asia. The Company boasts state-of-the-art production facilities and modern extrusion lines, along with robust quality and technical support systems, enabling it to meet customer needs according to the highest technical and operational standards. Focused on quality and innovation, Balexco remains committed to providing competitive, sustainable products and solutions, enhancing value for its customers and shareholders.

For more information, visit: www.balexco.com.bh