Author: dlalabrok_adm

INMA Holding Company announced that Mr. / Mohamed Abdel Moneim submitted a request to withdraw his nomination application for the membership of the Board of Directors for the next three years, which he had previously submitted, bearing in mind that the selection of the members of the Board of Directors will take place at the next Ordinary General Assembly meeting on 1/3/2022 or on the second date (Alternative) on 7/3/2022.
Thus, the number of candidates for membership of the Board of Directors is six candidates for six seats.

Mesaieed Petrochemical Holding Company announced its annual financial statements for the period ending on December 31, 2021, where the net profit amounted to 1,861,550,000 Qatari riyals, compared to the net profit of 532,213,000 Qatari riyals for the same period last year.
Earnings per share amounted to 0.148 Qatari riyals annually from December 31, compared to 0.042 Qatari riyals for the same period in the previous year.
The Board of Directors recommended the distribution of cash dividends 11% of the nominal value of the shares, equivalent to 0.11 Qatari riyals per share.

FTSE Russell announced the results of its semi-annual review of market indices, according to the following details:
Addition of companies into the FTSE indices
None
Exit of companies from the FTSE indices
Doha Insurance Group’s exit from the Micro-Cap Index
The results of the review apply:
Closure on March 17, 2022
To view the FTSE press release, click here

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Salam International Investment Company Limited announced its annual financial statements for the period ending on December 31, 2021, where the net profit amounted to QR 59 million, compared to a net loss of QR 160 million for the same period the previous year.
Earnings per share amounted to 0.045 Qatari riyals for the fiscal year ending on December 31, 2021, compared to a loss per share of 0.128 Qatari riyals for the same period in the previous year.
It is worth noting that the Board of Directors did not recommend to distribute any dividends.

Doha Insurance Company announced its annual financial statements for the period ending on December 31, 2021, where the net profit amounted to 73,269,695 QR compared to a net profit of 60,048,083 QR for the same period the previous year.
Earnings per share amounted to 0.15 Qatari riyals annually from December 31, 2021, compared to 0.12 Qatari riyals per share for the same period in the previous year.
The Board of Directors recommended the distribution of cash dividends of 12% of the nominal value of the shares, equivalent to 0.12 Qatari riyals per share.

National Leasing Holding announced the results of the Ordinary General Assembly meeting held on 20/02/2022, where the following was approved:
First: Hearing the report of the Board of Directors on the company’s activity and financial position for the year ending on December 31, 2021.
The Ordinary General Assembly heard the report of the Board of Directors on the company’s activity and financial position for the fiscal year ending on 12/31/2021.
Second: Hearing the report of the Shariah Supervisory Board on the company’s activity for the year ending on December 31, 2021.
The Ordinary General Assembly heard the report of the Shari’a Supervisory Board on the company’s activities for the fiscal year ending in 2021
Third: Hearing the independent auditor’s report on the company’s financial statements for the financial year ending on December 31, 2021 AD.
The General Assembly heard the auditors’ report, Ernst and Young, on the company’s balance sheet and profit and loss account for the financial year ending on 31/12/2021.
Fourth: Discussing the balance sheet and profit and loss account for the company for the financial year ending on December 31, 2021:
The company’s balance sheet and profit and loss accounts were discussed
Fifth: Considering discharging the members of the Board of Directors from liability for the financial year ending on December 31, 2021:
The General Assembly decided to absolve the members of the Board of Directors from liability for the fiscal year ending on December 31, 2021.
Sixth: Discussing and approving the corporate governance report for the year 2021:
The General Assembly heard the annual corporate governance report for the year 2021 and was approved.
Seventh: Appointing an external auditor for the company’s accounts for the year 2022 and determining their fees:
The General Assembly decided to appoint Messrs. Rodel & Partner, the company’s auditors for the year 2022.
The items of the Ordinary General Assembly meeting and all the results issued by it were approved by the attending shareholders.

Extraordinary General Assembly agenda items
First: Approval of the Board of Directors’ recommendation to amend the company’s articles of association in accordance with Law No. (8) of 2021 to amend some provisions of the Commercial Companies Law promulgated by Law No. (11) of 2015 as follows:
Article (26)
The board member must be qualified, have sufficient knowledge of administrative matters and appropriate experience to perform his duties effectively, and must allocate sufficient time to carry out his work with integrity and transparency in the interest of the company, its goals and objectives.
A member of the Board of Directors is required to:
1)    He shall not be less than twenty-one years of age, and shall enjoy full capacity.
2)    He has not been previously convicted of a felony, a crime against honor or trust, or one of the crimes referred to in Article (40) of Law No. (8) of 2012 regarding the Qatar Financial Markets Authority, and Articles (334). (335) of the Commercial Companies Law No. (11) of 2015 promulgating the Commercial Companies Law, or that it is prohibited from engaging in any business in the entities subject to the Authority’s control under Article (35, paragraph 12) of the aforementioned Law No. (8) of 2012, or That he has been declared bankrupt, unless he has been rehabilitated.
3)    To be a shareholder and, upon his election, or within thirty days from the date of his election, to own (2,000,500) shares of the company’s shares and to be deposited in one of the approved banks, within 60 days from the date of the start of membership, without being negotiable, mortgaging or Seizure until the membership term expires, and the budget of the last fiscal year in which the member performed his work is approved.
The shares referred to in the previous paragraph shall be allocated to guarantee the rights of the company, shareholders, creditors and third parties for the responsibility that falls on the members of the board of directors. They are not free to manage the company or receive a wage in it, and the independent members of the company are exempted from the condition of contributing or owning the company’s shares stipulated in Clause (3) of this Article.
If a member of the board of directors loses any of these conditions, he loses his membership status from the date of losing that condition, and the candidate for board membership must submit a written declaration acknowledging that he has not held any position that is legally prohibited from combining it with the membership of the board. In all cases, the company is obligated to send a list of the names and data of the candidates Council membership to the Commission for approval at least two weeks prior to the date set for the council elections, with the curriculum vitae of each candidate attached, and a true copy of the nomination requirements.
If a member of the board of directors loses any of these conditions, he loses his membership status from the date of losing that condition.
Article (39)
“The board of directors shall send an electronic invitation to all shareholders to attend the general assembly meeting, on the website of the financial market, and the company’s website, if any, and by advertising in a local daily newspaper issued in the Arabic language or by any other means of information.
The announcement must be made at least twenty-one days before the date set for the general assembly, and it must include the provisions of Article (128) of the Commercial Companies Law, an adequate summary of the assembly’s agenda, and all data and papers referred to in the previous article, with a report auditor.
A copy of the advertisement is sent to the administration at the same time as it is sent to the newspapers.
Article (41)
The board must also invite the general assembly to convene whenever a shareholder or shareholders own at least (10%) of the capital request it, within fifteen days from the date of the request. Fifteen days from the date of receiving the request, and the agenda in these two cases is limited to the subject matter of the request.
Article (42)
If a number of shareholders representing at least (5%) of the company’s capital requests the inclusion of certain issues in the agenda, the board of directors must include them, otherwise the assembly has the right to decide to discuss this.

Qatar Fuel Company announced that due to the lack of a quorum necessary to hold the Extraordinary General Assembly meeting, which was scheduled to be held on 16/02/2022, the meeting will be postponed to the reserve date on 27/02/2022 via modern technology means at WOQOD Tower at 07:00 pm.

QLM Life and Medical Insurance – Q.P.S.C. announced the invitation of the Ordinary and Extraordinary General Assembly to convene on 14/03/2022, via a remote communication system, at the company’s headquarter in West Bay at 04:30 pm. In the event of Lack of quorum, the alternative meeting will be held on 21/03/2022, via remote communication system, at the company’s main headquarters in West Bay at 04:30 pm.
Agenda of the Ordinary General Assembly:
1)    Hearing the report of the Board of Directors on the company’s activity and financial position during the year ending on 31/12/2021 and the company’s future plan and approving it.
2)    Hearing the auditors’ report on the company’s financial statements for the year 2021, and approving it.
3)    Discussing the company’s budget and profit and loss accounts for the year 2021, and approving them.
4)    Approving the proposed distribution of dividends at a rate of (22%) of the nominal value of the share at the rate of 22 dirhams per share.
5)    Considering discharging the members of the Board of Directors from liability and approving their remuneration for the year 2021.
6)    Considering and approving the corporate governance report for the year 2021.
7)    Considering and approving the company’s policy for the company’s remuneration for the year 2022.
8)    Appointing the company’s auditors for the fiscal year 2022 and determining their fees

Agenda of the Extraordinary General Assembly:
1)    Approving the amendment of the company’s articles of association in line with the amendments to the Commercial Companies Law No. (11) of 2015 issued by Law No. (8) of 2021, and with the directives of the Qatar Central Bank, the Qatar Financial Markets Authority and the company’s work requirements.
2)    Authorizing His Excellency, the Chairman of the Board of Directors or his deputy to sign alone all documents necessary to amend the company’s articles of association with the foregoing.

Investment Holding Group announced that the Board of Directors will meet 06/03/2022 to discuss the next meeting agenda:
1.    Hearing and discussing the company’s financial position statement, profit and loss statement, cash flow statement, and clarifications for the financial year ending on 12/31/2021 compared to the financial year ending on 12/31/2020 approved by the company’s auditors, and the Board of Directors’ report on the company’s activity and the company’s financial position and future plans, including the corporate governance report.
2.    Hearing and discussing the report of the Audit and Risk Committee on the financial statements, the company’s activity and its financial position during the financial year ending on 12/31/2021.
3.    Hearing and discussing offers to appoint auditors.
4.    Discussing the recommendation to the General Assembly on the distribution of profits to shareholders.
5.    Inviting the company’s annual general assembly to convene and setting its agenda.
The Investment Holding Group Q.P.S.C intends to publish the presentation addressed to investors on the website http://ihgqatar.com, on Monday, March 7, 2022. A teleconference will also be held for investors on the group’s results and profits in full on Wednesday, March 9, 2022 at1:30 p.m.

The Qatar Electricity and Water Company announced the invitation of the General Assembly of the Ordinary General Assembly to convene on 14/03/2022, electronically using Zoom, at 03:30 pm. In the event of a lack of a quorum, the alternative meeting will be held on 21/03/2022, electronically using Zoom, at 03:30 pm.

Agenda for the Ordinary General Assembly
1.    Hearing the report of the Board of Directors on the company’s activity and financial position for the year ending on 12/31/2021 and the future plan and ratifying it.
2.    Hearing the auditors’ report on the company’s budget for the fiscal year 2021 and ratify it.
3.    Discussing and approving the company’s balance sheet and profit and loss account and approving the profit distribution proposal.
4.    Presenting and approving the corporate governance report for the year 2021.
5.    Discharging the members of the Board of Directors from liability for the fiscal year 2021 and approving their remuneration.
6.    Appointing auditors for the fiscal year 2022 and determining their fees.
7.    Approving the share sale and purchase agreement between Ras Laffan Operating Company and Qatar Holding Company to purchase 40% of the capital of Nebras Power Company.