OREANDA-NEWS. Qatar National Cement Company announced the resolutions of Ordinary and Extraordinary General Assembly Meetings held on 17th March 2015.  The following resolutions were passed:

AGM Decisions:-

1.     The Financial Statements for the year ended 31st December 2014 has been approved.

2.     The AGM has approved a distribution of 40% from the company’s share capital as cash dividends.

3.     The AGM has released the Board Members from liability during 2014 and their proposed remuneration has been approved.

4.     External Auditors has been appointed for the year 2015 and their fees has been approved.

 

EGM Decisions:-

1.     The EGM has approved a distribution of 10% from the company’s share capital as bonus shares, one free share for each ten shares held.

2.     The EGM has approved amending Article 6 of the Articles of Association and increasing the share capital to QR. 540,106,560/-, the nominal share value is QR.10.

3.     The EGM has approved to extend the duration of the company for additional 50 years with effect from 09/10/2015.

4.     The EGM has delegated the Board of Directors to sell the fraction shares amounting to 7,544 shares.