Gulf Warehousing holds its AGM and EGM on 14/02/2016 and announces the agenda
OREANDA-NEWS. Gulf Warehousing Company announces that the Ordinary and Extraordinary General Assembly Meeting that will be conducted 14-02-2016.
Annual General Meeting 2016 Agenda:
- To hear and discuss the board of director’s report regarding the company’s activity and financial position during the year,
- To discuss the accountant’s report on the company’s budget and end of the year accounts that are presented by the board of directors for the fiscal year ending on 31/12/2015.
- To discuss the company’s budget, and calculate profits and losses for the fiscal year ending on 31/12/2015, and have both verified.
- Approving the dividend payment of QAR 1.5 per share (15%).
- To discuss and verify the Annual Corporate Governance Report.
- Look into clearing the board members of any possible liability and set their bonuses.
- Discuss the tenders for the appointment of an external auditor and set their fees.
Extraordinary General Meeting 2016:
- Foreign Ownership Limit Increase to 49% of the company’s capital, as stated by Law No. 9 of the Year 2014, which states:
“Non-Qatari investors may own shares that do not exceed 49% of the total capital of any Qatari Shareholding Company listed on the Qatar Exchange, and that is after the approval of the ministry on the proposed rate of foreign ownership suggested in the company’s Articles of Association and by-laws. Non-Qatari investors may own more than the suggested rate, after approval from the parliament, based on the suggestion of the minister. The nationals of Gulf Cooperation Council Countries shall be treated as Qatari nationals in terms of rates of ownership in the shares of companies listed on the Qatar Exchange.”
- Amend the company’s by-laws and Articles of Association in line with the provisions of the New Companies Act issued by the Ministry of Economy and Commerce No (11) for 2015.
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