Notice of EGM – 7 September 2018

Meetings

10th August 2018

Dear Members,

Salaamun Alaykum

In line with clause 8 of the Constitution, notice is hereby given by the Executive Committee of an Extraordinary General Meeting (EGM) to be held on Friday 7th September 2018 at 7.40pm at the Husaini Shia Islamic Centre, Stanmore, HA7 4LQ, to transact the following:

1) Recitation of the Holy Qur’an and the English translation thereof

2) Salaat

3) Consideration and adoption of the following resolutions relating to the proposed purchase of the site known as the “RNOH Western Development Zone (WDZ)”:

A.In accordance with clause 6.10 of the Constitution, the General Body of The KSIMC of London hereby resolve to grant the Executive Committee the mandate to enter into such contracts, incur such obligations and generally to do such acts as may be appropriate or necessary to purchase the site known as the “RNOH Western Development Zone (WDZ)” (the “Site”), provided that the purchase price of the Site does not exceed AMOUNT REDACTED FOR CONFIDENTIALITY PURPOSES (the “Purchase Price”), exclusive of any taxes and fees;

B.The General Body of The KSIMC of London hereby resolve to grant the Executive Committee the mandate to incur costs and professional fees in connection with the proposed purchase of the Site (including consideration of appropriate legal ownership structure of the Site), subject to a maximum of 2 per cent of the Purchase Price, exclusive of any taxes;

C.In accordance with clause 6.12 of the Constitution, the General Body of The KSIMC of London hereby resolve to grant the Executive Committee the mandate to borrow money for the purposes of funding the purchase of the Site (and related costs, taxes and fees), and such borrowing may be secured on the assets of The KSIMC of London (which shall include, for the avoidance of doubt, the Hujjat center and the Ruislip property);

3) Consideration and adoption of the following resolution relating to a proposed loan to Muslim Shia Ithnathery Jamaat of Essex

A.In accordance with clause 6.11 of the Constitution, the General Body of The KSIMC of London hereby resolve to grant the Executive Committee the mandate to enter into such contracts, incur such obligations and generally to do such acts as may be appropriate or necessary to lend Muslim Shia Ithnathery Jamaat of Essex up to £100,000 of Jamaat funds; subject to the following:

a.The loan shall not bear any interest;
b.The loan shall be repayable by no later than the end of February 2021; and
c.The loan shall be jointly guaranteed by the World Federation of KSIMC and the Council of European Jamaats.

In line with clause 8 of the Constitution, the Executive Committee feel it is in the community’s interest to hold this discussion before the AGM due to (1) bids for the Site needing to be submitted in accordance with vendor timetable; and (2) the need of Essex Jamaat for funds to progress building works on center.

Further information on the Site will be made available to members in advance of the EGM.

Proposed amendments to the above resolution will be considered in advance of the meeting and the resolution adjusted accordingly. Please email any proposed amendments to Secretary@hujjat.org

Registration will commence at 7.15pm. Both male and female members are encouraged to attend.

With Salaams and Duas

Musafir Somani
Hon Secretary
The KSIMC of London