OREANDA-NEWS. QNB Group announces the results of the Ordinary and Extraordinary General Assembly Meetings was held on Sunday 31/01/2016 and has approved the following resolutions:

Agenda of the Ordinary General Assembly

1- Heard the statement of His Excellency the Chairman and the report of the Board of Directors on the Company’s activities, financial position during the year ending 31December 2015 and the business plan for 2016.

2- Heard and approved the report of the External Auditors on the Company’s balance sheet and on the accounts submitted by the Board of Directors.

3- Discussed and approved the balance sheet and profit and loss for the year ended 31December 2015.

4- Approved the proposal of the Board of Directors to distribute to the shareholders cash dividends at the rate of 35% of the nominal share value, i.e. QR3.5 for each share, and bonus shares at the rate of 20% of the share capital.

5- Approved the transfer of the necessary amounts from the retained profits to the legal reserve for this reserve to become 100% of the capital (excluding issue fees).

6- Absolved the members of the Board of Directors and fixing their fees for the financial year ended 31December 2015.

7- Discussed and approved the Bank’s Governance Report for 2015.

8- Appointed an External Auditor for the Company for the financial year 2016 and fixing the fees.

9- Elected five members to the membership of the Board of Directors for three years 2016/2018 from the private sector.

Agenda of the Extraordinary General Assembly

1- Approved modification of some of the articles of the Statute of the Bank according to the Commercial Companies Law No. (11) for the year 2015.

2- Approved the issuance of capital instruments that qualify as Tier 1 additional capital and/or Tier 2 capital instruments in accordance with the Qatar Central Bank requirements and the standards of the Basel Committee and authorize the Board of Directors to determine the volume, size, timing, pricing and other dates and terms and conditions. These capital instruments can be issued directly by the Bank or through a Special Purpose Vehicle under the guarantee of the Bank. And to authorize the Board of Directors to decide on the appropriate placement of these instruments in addition to approving the final size, currency and the details of the terms and conditions of the issues and obtaining the necessary approvals from related regulatory authorities.

3- Approved amending related Articles of the Articles of Association to increase the capital of the Bank which is in the amount of QR 6,997,294,380 by distributing bonus shares at a rate of 20% of the present capital to read as follows:

The Company’s capital is in the amount of QR8,396,753,250 (Qatari Riyals eight billion, three hundred ninety six million, seven hundred fifty three thousand and two hundred fifty), divided into 839,675,325 (eight hundred thirty nine million, six hundred seventy five thousand and three hundred twenty five) ordinary nominal shares, the value of each QR10 (Qatari Riyals ten).