QATAR NATIONAL CEMENT POSTPONES EXTRA ORDINARY GENERAL MEETING TO RESERVE DATE 02/03/2022 FOR THE YEAR 2021

Qatar National Cement Co. Extraordinary General Assembly meeting will be held on the reserve date at half past five in the evening of Wednesday, March 02, 2022 via Zoom and will discuss the following agenda:

1) Approval of the amendments contained in the 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, as indicated by the attached draft amendment.

2) Authorizing Chairman of the Board of Directors to take all necessary measures with the competent authorities, to approve, document and publish the amendment mentioned in the amended articles of association.

Qatar Gas Transport Company Ltd.: The AGM Endorses items on it’s agenda

Qatar Gas Transport Company Ltd. announces the results of the AGM. The meeting was held on 28/02/2022 and the following resolution were approved

 

1.       Ratified the report of the Board of Directors on the Company’s activities and financial position during the fiscal year ended 31/12/2021 and future plans.

2.       Ratified the External Auditor’s report on the fiscal year ended 31/12/2021.

3.       Ratified the Company’s balance sheet and profit & loss account for the fiscal year ended 31/12/2021.

4.       Adopted the Governance report for the year ended 31/12/2021.

5.        Approved the Board of Directors’ suggestions regarding distribution of cash dividends for the fiscal year ended 31/12/2021 totaling (12%) of the capital, which is equivalent to (12 Qatari Dirhams) per share.

6.       Approved to release and discharge the Board of Directors members from their responsibilities and approved their remuneration for the year 2021.

7.       Approved the appointment of External Auditor (Ernst & Young) for the fiscal year 2022 and determined their fees.

8.       Elected three Members to Nakilat’s Board of Director, two of them are independent and the third from the shareholders.

 

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Qatar National Cement Co.: The AGM Endorses items on it’s agenda

Qatar National Cement Co. announces the results of the AGM. The meeting was held on 28/02/2022 and the following resolution were approved:

1) Approval of the Board of Directors’ report for the year 2021, and the future plans for the year 2022.

2) Approval of the auditors’ report on the company’s budget for the year ending on 31/12/2021.

3) Approval of the budget and Financial Statements for the fiscal year 2021.

4) Approval of the distribution of 30% of the capital as cash dividends for the year 2021, at the rate of 30 dirhams for each valid share.

5) Approval of the 2021 Governance Report.

6) Approval of the release of the members of the Board of Directors of their responsibility in the year 2021, and to approve their remuneration proposal.

7) Approval of Reappointment of Talal Abu-Ghazaleh & Co., to audit the company’s accounts for the year 2022, in return for a fee of -/ 110,000 (one hundred and ten thousand) riyals.

 

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Vodafone Qatar P.Q.S.C.: The AGM and EGM Endorses items on it’s agenda

Vodafone Qatar P.Q.S.C. announces the results of the AGM and EGM. The meeting was held on 28/02/2022 and the following resolution were approved

 

Annual General Assembly:

1-      Approved the Board of Directors’ report of the Company’s activities and its financial position for the financial year ended 31 December 2021;

2-      Approved the External Auditor’s report on the Company’s Accounts for the financial year ended 31 December 2021;

3-      Approved the Company’s Balance Sheet and the Profit and Loss Accounts for the financial year ended 31 December 2021;

4-      Approved the proposal of the Board of Directors regarding the distribution of a cash dividend in the rate of 6% of the share nominal value (QR 0.06 per share) for the financial year ended 31 December 2021;

5-      Discharged the members of the Board of Directors from any liability and approved their remuneration for the financial year ended 31 December 2021;

6-      Approved the External Auditor’s reports in accordance with Article 24 of the Corporate Governance Code for Companies and Legal Entities listed on the Stock Exchange issued by the Qatar Financial Markets Authority Board Decision No.5 of 2016.

7-      Approved the Company’s Corporate Governance Report for the financial year ended 31 December 2021;

8-      Re-appointed KPMG as the External Auditor of the Company for the period from 1 January 2022 to 31 December 2022 and fix their fees.

9-      Elected the 3 Independent Board Members to the Company’s Board of Directors and approved the formation of the new Board of Directors for a term of three years (2022 – 2024) as follows:

Elected Independent Board Members:

1.       H.E. Mr. Abdulla Bin Nasser Al Misnad

2.       H.E. Mr. Akbar Al Baker

3.       H.E. Sheikh Hamad Bin Faisal Thani Jassim Al-Thani

Board Members appointed by Vodafone and Qatar Foundation LLC pursuant to Article 29.1 of Vodafone Qatar’s Articles of Association:

1.        Mr. Rashid Fahad Al-Naimi

2.         H.E. Sheikh Saoud Abdul Rahman Hassan Al-Thani

3.        Mr. Nasser Jaralla Al Marri

4.        Mr. Nasser Hassan Al-Naimi

Extraordinary General Assembly:

1- Approved (subject to obtaining all relevant regulatory approvals) the proposed changes to the Company’s Articles of Association (“AoA”) in accordance with the Law No. (8) of 2021 amending certain provisions of the Qatar Commercial Companies Law No. (11) of 2015.

2- Authorised the Chairman of the Board and/or the Vice Chairman to sign the amended AoA and to complete the required formalities in this regard, subject to obtaining all necessary regulatory approvals, provided that the Chairman of the Board and/or the Vice Chairman shall be entitled to delegate this right to any member of the Board and/ or the CEO of the Company and to allow authorised persons to assign this task to the Company’s employees as they deem appropriate.

 

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Qatar Fuel Co.: The AGM Endorses items on it’s agenda

Qatar Fuel Co. announces the results of the AGM. The meeting was held on 27/02/2022 and the following resolution were approved

 

1.      Approval of the Board of Directors report on company activities, financial standing for the year 2021, and its future plans.

2.      Approval of the External Auditors Report on WOQOD Group financial statements for the Fiscal period ended 31/12/2021.

3.      Approval of WOQOD Group financial statements and profit and loss account for the year 2021 ended 31/12/2021.

4.      Approval of the distribution of QR. 756 million from net profits realised for the year 2021 representing (0.76) Riyal per share to shareholders by way of dividends.

5.      Approval of the release of the Board of Directors from liability vis-à-vis management actions, and their discharge from any liability or responsibility in relation to the fiscal year ended 31/12/2021 and approval of their remuneration.

6.      Approval of the WOQOD Group Governance Report for the year 2021.

7.      Approval of the appointment of M/S Deloitte as an External Auditor of WOQOD Group for the year 2022 and determining their fees.

 

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Baladna : Board of directors meeting on 07/03/2022

The Baladna has announced that its Board of Directors will be holding a meeting on 07/03/2022 to discuss the

1-       Present and discuss the company’s consolidated audited financial statements for the period ended December 31, 2021.

2-       Present and discuss the Audit Committee’s report regarding the company’s consolidated audited financial statements for the period ended        December 31, 2021

3-       Consider recommending to the General Assembly, the distribution of cash dividends to shareholders based on the financial results for the period ended December 31, 2021.

4-       Present and discuss the company’s Annual Report 2021 including the Corporate Governance report.

5-       Call for an Ordinary and Extraordinary General Assembly meetings and determine their agendas

6-       Any other business

 

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Qatar Electricity & Water Company’s Joint venture, Nebras Power announces completion of 24% equity stake acquisition in Unique Meghnaghat Power Limited in Bangladesh through its subsidiary, Nebras Power Investment Management B.V.

Qatar Electricity & Water Company’s Joint venture, Nebras Power announces completion of 24% equity stake acquisition in Unique Meghnaghat Power Limited in Bangladesh through its subsidiary, Nebras Power Investment Management B.V.

NPIM has purchased the stake from Unique Hotel & Resorts Limited (UHRL) and Strategic Finance Limited (SFL). UHRL, SFL, and General Electric will jointly hold 76% in the project.

While the financial details of the deal have not been disclosed, it has the full endorsement of Nebras’s senior management, the board of directors, UHRL, SFL, and GE.

Commenting on the completion of the deal, Mr. Mohammed Nasser Al-Hajri, Chairman of Nebras Power said: “The acquisition of an equity stake in Unique Meghnaghat Power Limited and the establishment of partnerships with renowned players UHRL and SFL will not only help us meet a growing demand for energy, but it will further operate as a strategic foundation for Nebras’s entry into the Bangladeshi power sector.”

Nebras CEO Khalid Mohammed Jolo echoed this sentiment noting the seminal nature of the acquisition in expanding Nebras’s geographic footprint. “We are excited to have our first project in Bangladesh, which is one of Asia’s fastest growing economies. Nebras considers Bangladesh a robust growth market for future investments in clean energy sources,” Mr. Jolo said.

Unique Meghnaghat is constructing a 584 MW combined cycle power plant at Meghnaghat, Sonargaon, in Narayanganj district, approximately 27 km east of Dhaka. At its core, the power plant will be powered by GE’s state-of-the-art 9HA.01 gas turbine, one of the most efficient gas turbines in the world.

The plant will be one of the largest Independent Power Producer (IPP) projects in Bangladesh upon completion and will be supplying electricity to the Bangladesh Power Development Board for 22 years.

“This latest acquisition and partnership exemplifies our continuing ambitions of being   one of the leading global power investment companies and to diversify our asset base. In accordance with this mandate, Nebras will continue to focus on greenfield and brownfield developments that deliver reliable power while also concurrently generating healthy financial returns,” Nebras’s Chief Business Development Officer Faisal Al-Siddiqi added.

About Nebras Power QPSC

Nebras Power Q.P.S.C. (“Nebras”) headquartered in Doha, State of Qatar, is a joint venture of Qatar Electricity and Water Company (“QEWC”) (60%) and Qatar Holding (“QH”) (40%). Nebras is a strategic investor in the power and water sectors with a global vision. Its target is a well-balanced investment portfolio in terms of technology mix, markets and greenfield development vs M&A. Nebras is committed to providing safe, sustainable, efficient and environmentally sound energy solutions for future generations.  www.nebras-power.com

About Nebras Power Investment Management BV

Nebras Power Investment Management BV (“NPIM”) is a wholly owned subsidiary of Nebras Power Q.P.S.C. NPIM is the international investment management platform of Nebras Power Q.P.S.C. Its mandate is to own, develop and invest, in greenfield developments and brownfield projects, in the sectors of power and water, in the Netherlands and internationally.

 

For More Information please contact:

Charles Mitchell, Head – Public Relations, Nebras Power

Phone: +974 4433 4326 |Mobile: +974 5022-1628 | Fax: +974 4433 43 59

Email:  Charles.Mitchell@nebras-power.com

 

Noor Rashid Al-Sulaiti, Senior Public Relations Officer, Nebras Power

Phone:

Alkhaleej Takaful Insurance : Disclose the Annual financial statement of 2021

Alkhaleej Takaful Insurance discloses the interim financial statement for the twelve-month period ending 31st December , 2021 . The financial statements revealed a Net Profit of QR 40,129,476 in comparison to Net Loss QR 39,320,101 for the same period of the previous year.

The Earnings per share(EPS) amounted to QR 0.16 as of 31st December , 2021 versus loss per share QR 0.15 for the same period in 2020.

In addition to the proposed dividend distributionCash Dividends 0.75

 

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