Alkhaleej Takaful Insurance announces the annual Ordinary & Extraordinary AGM will be held at the company premises ( Building No.76 – Grand Hamad Street – Area No.5 – Street No. 119) Second Floor on the same date and time instead of the previous location at the Westin Hotel.
Mazaya Qatar Real Estate Development discloses the interim financial statement for the twelve-month period ending 31st December , 2021 . The financial statements revealed a Net Loss of QR 248,748,415 in comparison to Net Profit QR 31,031,818 for the same period of the previous year.
The loss per share amounted to QR 0.21 as of 31st December , 2021 versus Earnings per share(EPS) QR 0.03 for the same period in 2020.
The company’s board of directors decided not distribute any profits for the fiscal year 2021
Doha Insurance announces the results of the AGM and EGM. The meeting was held on 16/03/2022 and the following resolution were approved
The Shareholders have heard and approved the following agenda: –
1) Hearing the report of the Board of Directors on the Group’s activities, financial position during the financial year ending 31 December 2021 and the Group’s business plan for 2022.
2) Hearing and approving the External Auditors report on the Group’s balance sheet and the accounts for the financial year ending 31 December 2021.
3) Discussing and approving the Group’s balance sheet and profit and loss statement for the financial year ending 31 December 2021.
4) Approving the proposal of the Board of Directors to distribute to shareholders a cash dividend of 12 % from the share par value i.e. QR. 0.12 (Twelve Dirham) for each share.
5) Releasing the members of the Board of Directors from any liabilities and approving their remunerations for the financial year ending 31 December 2021 for Q.R 7 Million.
6) Approving Remuneration policy.
7) Discussing and approving the Group’s Corporate Governance Report for 2021.
8) Appointing the Group’s External Auditor for financial year 2022 and determining their fees for Q.R 720,475.
Second: Results of the Extra Ordinary General Assembly Meeting
The Shareholders have heard and approved the following agenda: –
1) Approving proposed amendments to the group’s articles of Association in accordance with the provisions of law No.8 for the year 2021 amending some provisions of the Commercial Companies law No. 11 for the year 2015, and in accordance with the directives of the Oatar Financial Markets Authority and business requirements of the group.
2) Authorize the Chairman or his deputy individually to sign all the necessary documents to amend the said article of association.
Investment Holding Group announces the opening of nominees for the board memberships, years from 2022 to 2025. Applications will be accepted starting from 18/03/2022 till 02:00 PM of 23/03/2022.
Mannai Corporation discloses the interim financial statement for the twelve-month period ending 31st December , 2021 . The financial statements revealed a Net Profit of QR 276,076,000 in comparison to Net Profit QR 1,659,000 for the same period of the previous year.
The Earnings per share(EPS) amounted to QR 0.605 as of 31st December , 2021 versus Earnings per share(EPS) QR 0.004 for the same period in 2020.
In addition to the proposed dividend distributionCash Dividends 0.30
We draw your attention that the technical glitch that stopped updating the indices has been fixed.
All market data was not affected by this error.
Mesaieed Petrochemical Holding Co announces the results of the AGM and EGM. The meeting was held on 15/03/2022 and the following resolution were approved
The agenda of the Ordinary General Assembly Meeting is:
1. Listened to the Chairman’s Message for the financial year ended 31 December 2021.
2. Approved the Board of Directors’ Report on MPHC’s operations and financial performance for the financial year ended 31 December 2021 and the future plan of the Company.
3. Approved the Auditor’s Report on MPHC’s financial statements for the financial year ended 31 December 2021.
4. Approved of MPHC’s financial statements for the financial year ended 31 December 2021.
5. Approved the 2021 Corporate Governance Report.
6. Approved the Board’s recommendation for a dividend payment of QR 0.11 per share for 2021, representing 11% of the nominal share value.
7. Absolved the Board of Directors from liability for the financial year ended 31 December 2021 and fixed their remuneration.
8. Appointment of Deloitte & Touche as the external auditor for the financial year ending 31 December 2022 and approved their fees.
The agenda of the Extraordinary General Assembly Meeting is:
1. The Extraordinary General Assembly (EGM) has approved the proposed amendments to the Company’s Articles of Association. These amendments ensure compliance with certain provisions of both Law no. 11 of 2015, promulgating the Commercial Companies Law as amended by Law no. 8 of 2021, and QFMA Governance Code. The EGM has also approved an amendment to increase the non-Qatari ownership limit in the Company’s share capital from 49% to 100%, ensuring that all relevant requirements are fully met.
Investment Holding Group Q.P.S.C. announces that it was notified by Qatar Financial Market Authority on 15/3/2022 the letter No 11-2022 which states the following:
“With reference to Qatar Financial Market Authority letter No 7-2022 issued on February 22, 2022, on the above subject.
Kindly instruct those who are required to work on completing the procedures for the acquisition of Investment Group Holding Company on Elegancia Group Company, according to the exchange rate mentioned in the draft Shareholder Circular, and after obtaining the approval of the Extraordinary General Assembly of Investment Group Holding Company, the procedures for issuing and listing the capital increase shares are worked out after coordination with the relevant authorities, taking into account all legislation, laws, regulations and instructions issued by Qatar Financial Market Authority and related legislation.”
Accordingly, the Board of Directors of Investment Holding Group Q.P.S.C resolved during its meeting held at 4:00 pm on Tuesday, March 15 2022, the following decisions:
1- Recommend to the General Assembly of Shareholders to approve the acquisition.
2- The resignation of all members of the Board of Directors from the membership of the Board of Directors of IHG.
3- Call the Ordinary General Assembly to convene to elect a new Board of Directors consisting of four independent members and seven non-independent members for a term of three (3) years (2022-2025).
4- Invite any candidate who meets the legal requirements, specified in the company’s articles of association, the Commercial Companies Law, the Corporate Governance Code and the legal entities listed on the main market issued by the management of Qatar Financial Market Authority and all relevant legislation and laws, to run for membership in the board during the period extending from 18/3/ 2022 until 23/3/2022 inclusive.
5- Call the Extraordinary General Assembly to convene to determine its agenda, after obtaining the necessary approvals
6- Publish the Shareholder Circular on the website of Investment Holding Group Q.P.S.C for a period of one year after obtaining the approval of the Ministry of Commerce and Industry on the date of convening the Ordinary and Extraordinary General Assembly.
Agenda of the Ordinary General Assembly meeting:
Elect new Board of Directors consisting of four independent members and seven non-independent members for a term of three (3) years (2022-2025).
Agenda of the Extraordinary General Assembly meeting:
(i) The acquisition of Elegancia Group W.L.L (“Elegancia”) by way of share swap (the “Transaction”) to be effected pursuant to Article 45 of the Offering & Listing of Securities on the Financial Markets Rulebook of the QFMA, Article 195 of the Companies Law, and Article 2 of the QFMA M&A Rules;
(ii) Summary of the acquisition agreement entered into between IHG and Elegancia dated 10 March 2022 (including as an annex the agreement between IHG and the Elegancia (the “Elegancia Owners”) dated 9 November 2021) (the “Acquisition Agreement”));
(iii) Presentation of the valuation and the different valuation methodologies used by the two evaluators and the process that resulted in the agreed Share Swap Ration;
(iv) The increase of the authorised and paid up share capital of IHG by QAR 2,574,037,500 (from QAR 830,000,000 to QAR 3,404,037,500);
(v) The issuance of new shares in IHG to the Elegancia Owners in consideration for their shares in Elegancia on the basis of the following: for every 1 IHG share currently in issue, the Elegancia Owners will receive 3.10125 New IHG Shares, whereby IHG represents 24% of the combined business, and Elegancia 76%. While the respective proportions of the business owned by each party post completion was the predominant driver, taking a value of QAR 860,000,000 for IHG at the agreed ratio implies that the value of Elegancia is QAR 2,667,000,000, subject to obtaining all regulatory approvals and satisfying all the conditions set out in the Acquisition Agreement;
(vi) Waiver of any applicable subscription rights pertaining to the capital increase of IHG;
(vii) Approval of the exemption of Elegancia from submitting a compulsory offer to purchase the shares of IHG Shareholders in accordance with the QFMA M&A Rules, and to approve the subsequent sale by the Elegancia Owners of at least 6% of the New IHG Shares over a period of 3 months following completion;
(viii) Amending articles 5, 6, 7, 8, 27, 29, 32, 36, 41,43,44, 45, 48, 49,51, 53,57 and 81 of the articles of association of IHG based on the Companies Law as amended;
(ix) Amending article 1 of the articles of association to change the company’s name to be “Elegancia Holding Qatari Public Shareholding Company (Q.P.S.C.)”.
(x) Designate the Chairman of IHG or any person he designates to:
a. adopt any resolution or take any action as may be necessary to implement any and all of the above resolutions including, without limitation, to apply for a resolution of the MOCI and the QFMA to increase the share capital of IHG, to amend its articles of association, and to attend before the Ministry of Justice, the MOCI and any other competent authority in the State of Qatar and submit and/or sign any necessary documents to effect such amendments;
b. appoint an exchange agent to facilitate the issuance of the New IHG Shares in accordance with the Share Swap;
c. submit all required documents and applications to the Qatar Stock Exchange (“QSE”) for the listing of the New IHG Shares on the QSE; and
d. sign any documents, agreements and applications in relation to any of the above.
Barwa Real Estate Group held its Extraordinary General Assembly Meeting on Monday evening, 14 March 2022 to discuss the below agenda:
1. To approve the proposed amendments to the company’s articles of association, which are shown on the company’s website www.barwa.com.qa
2. To authorize the Chairman of the Board of Directors or his authorized representative to take all necessary measures to amend the company’s articles of association.
Qatar Insurance announces that the General Assembly Meeting AGM and EGM will be held on 27/03/2022, virtually (Zoom) from the company’s headquarter in Al Dafna and 04:30 PM. In case of not completing the legal quorum, the second meeting will be held on 03/04/2022, virtually (Zoom) from the company’s headquarter in Al Dafna and 09:30 PM
First : the General Assembly meeting:
1. Hearing and approving Directors Report on the activities of the Company and its financial positions for the year ended 31st Dec. 2021, and its future plan.
2. Hearing and approving the auditor’s report for the financial statements 2021.
3. Discussing and approving the company’s balance sheet and its profit & loss statement for the year 2021.
4. Approving the proposed distribution of dividend at 10% of the nominal value of share of (10) ten Dirhams for each share and set the date of payment.
5. Discharging the members of the Board of Directors, and approving their remuneration.
6. Reviewing and approving the Corporate Governance Report for the year 2021.
7. Reviewing and approving the remuneration policy for year 2022.
8. Appointing the auditors for the Financial Year 2022 and determine their Fees.
Second: the Extraordinary General ASSEMBLY MEETING:
1. Approving the amendment to the Articles of Association of the Company in accordance with the amendments to the Commercial Companies Law No. 11 of 2015 issued by Law No. 8of 2021, and in compliance with the directions of Qatar Central Bank, and Qatar Financial Markets Authority and the Company’s business requirements.
2. Authorize H.E. the Chairman of the Board of Directors to individually sign all documents required to amend the Articles of Association of the Company as aforesaid.
Clarification on participating in the Ordinary & Extraordinary General Assembly Meeting of Qatar Insurance Company which will be held virtually on Sunday, March 27, 2022, at 4:30 PM (through Zoom application). To facilitate shareholders willing to participate in the meeting, registration process will be as follows:
Shareholders can come to the company’s headquarters in Dafna, starting from 2:30 pm on the day of the meeting for registration (either self or proxy) and then obtain the link to participate in the meeting remotely.
Before the day of the meeting, shareholder can send a copy of the QID card, shareholder’s (Nin) number at the Qatar Stock Exchange and mobile number. In case the shareholder is representing another shareholder, in addition to the above documents required, a copy of the proxy issued by shareholder being represented should be also submitted. In case of a corporate shareholder, a copy of the proxy form along with a copy of the commercial registration of the company, the shareholder’s (Nin) number and the QID card of the delegate along with his mobile number should be submitted. All these documents are to be submitted to the following mail address: agm@qic.com.qa
We will contact the shareholder and share the registration link so they can register at the specified time (2:30 pm on the day of the meeting) and then obtain the link to participate in the meeting remotely (that starts at 4:30 pm).
