OREANDA-NEWS. Qatar National Cement Company announced the resolutions of AGM & EGM Meetings held Monday 15th February 2016. The following resolutions were passed:

AGM Decisions:- 

  1. The Financial Statements for the year ended 31st December 2015 has been approved. 
  1. The AGM has approved a distribution of 40% from the company’s share capital as cash dividends. 
  1. The AGM has approved the corporate governance for the year 2015. 
  1. The AGM has released the Board Members from liability during 2015 and their proposed remuneration of QR.8,750,000/- has been approved. 
  1. External Auditors M/s. Deloitte & Touche has been appointed for the year 2016 and their fees of QR.330,000/- has been approved. 

EGM Decisions:- 

  1. The EGM has approved the modified Articles Of Association in accordance with the commercial company’s law No.11 for the year 2015, and delegated H.E.- The Chairman and Managing Director to take the necessary actions with the competent authorities to approve the modified Articles Of Association. 
  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, and also has approved amending Article 6 of the Articles of Association and increasing the share capital to QR. 594,117,220/-, divided into 59,411,722 shares the nominal share value is QR.10.