Esterad Investment BSC : Signed Q4 2022 – English

ESTERAD INVESTMENT COMPANY BSC

CONSOLIDATED FINANCIAL

STATEMENTS

31 DECEMBER 2022

CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 December 2022

CONTENTS	Page
Chairman's statement	1 - 2
Independent auditors' report to the shareholders	3	- 7
Consolidated financial statements
Consolidated statement of financial position		8
Consolidated statement of profit or loss		9
Consolidated statement of comprehensive income		10
Consolidated statement of changes in equity	11	- 12
Consolidated statement of cash flows		13
Notes to the consolidated financial statements	14	- 46

/4, ESTERAD

CHAIRMAN'S STATEMENT (continued)

The table below that shows the remuneration of members of the Board of Directors and the Executive Management for the fiscal year ended 31 December 2022.

First: Board of Directors' Remuneration Details:

Fixed remunerations

Variable remunerations

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First: Independent Directors:			-		-		-		-		-		-		13,250
1- Abdulrahman Jamsheer	6,500	6,750	13,250
2- Razi Almurbati	6,500	5,750	-	12,250	-		-		-		-		-		12,250
3- Abdulla Jamsheer	6,500	5,750	-	12,250	-		-		-			-		-		12,250
														-		-
4- Mazen Abdulkarim	6,500	6,750	-	13,250			-		-		-				13,250
			-		-		-		-								11,750
5- Zayed Alamin	6,500	5,250	11,750					-		-
6- Faris Alkooheji	6,500	4,500	-	11,000	-		-		-		-		-		11,000
Second: Non-Executive Directors:		-		-		-		-		-	-	18,250
1- Hesham Alrayes	13,000	5,250	18,250
Third: Executive Directors:			-		-		-	-		-		-			11,000
1- Gabi El Hakim	6,500	4,500	11,000
Total	58,500	44,500	-	103,000		-		-	-		-		-		103,000

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Notes:

1. All amounts in Bahraini Dinars.
2. The Company does not have any variable remuneration payments, end of service benefits, or expense allowances paid to its directors.
3. Board remuneration represents allocation of proposed remuneration for 2022, subject to approval of the Annual General Meeting.

Second: Executive management remuneration details:

	Total paid	Total paid	Any other cash/	Aggregate
	in kind
Executive management	salaries and	remuneration
remuneration	Amount
	allowances	(Bonus)
	for 2021
*Remunerations for executives, including	348,933	123,670	-	472,603
CEO and Senior Financial Officer
Notes:
1. All amounts in Bahraini Dinars.
2. * Senior Executive Manaoement comprise	5 persons onlv.

Deputy Chairman

27 February 2023

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