OREANDA-NEWS. Qatar Insurance Company announced the agenda for its Ordinary and extraordinary General Assembly Meeting, to be held at 04:00 p.m. of Sunday, 21/2/2016 at the Four Seasons Hotel (AL-MIRQAB Hall), to consider the attached agenda.

FIRST: THE GENERAL ASSEMBLY MEETING: 

1)         Hearing and approving the Directors Report on the activities of the Company, its financial positions for the year ended 31st Dec. 2015, and the future plan.

2)         Hearing the auditor’s report for the financial information 2015.

3)         Discussing and approving the company’s balance sheet, and its profit & loss account.

4)         Approving the recommended profits distribution, being Cash Dividends of (25%) (Twenty five percent), i.e. QR. 2.5 (two and half) for each share, in addition to a Bonus Share issue of (10 %), i.e. one share for each ten shares.

5)         To consider discharging the members of the Board of Directors, and approving their remuneration.

6)         Approving the Corporate Governance Report for the year 2015.

7)         Appointing the auditors for the Financial Year 2016 and determine their Fees. 

Second: THE EXTRAORDINARY GENERAL ASSEMBLY MEETING:

1)         Approving the increase in the company''''s capital from (QR. 1.846.214.370) to stand at (QR 2,030,835,807) post the effect of bonus issue of 10% , i.e. (one share for each ten shares).The bonus shares will be issued after approving this increase in capital and obtaining the necessary approvals from the respective governing bodies, in addition  authorizing the board of directors to act accordingly with the share''''s fraction) .

2)         Approving the increase in capital from

 (QR. 2,030,835,807) by a further (20%) to reach QR. (2.437.002.968) through the issuance of (243,700,296), rights issue to the current shareholders with par value QR. 10 (ten) premium of QR. (40), and authorizing the board of directors to complete the necessary procedures according to the commercial companies law and the company''''s articles of association. 

3)         Amend article (6) of the company''''s articles of association to reflect the effect of the increase in capital. 

4)         To approve the amendments of the company''''s articles of association according to the company''''s law No. (11) 2015 after referring this matter with the monitoring department in the MBT. 

5)         To approve (in principal) the amendment of the par value of the company''''s share to be QR. (1) per share and thereafter amending article (6) in the articles of association to reflect the effect of this change.