Gulf International Services Ordinary and Extraordinary General Assembly Meetings
With reference to the above subject, we would like to inform you that the Ordinary and Extraordinary General Assembly Meetings of the shareholders of Gulf International Services (GIS) were convened on Sunday, 13th March 2022, electronically using Zoom application platform and approved the following agenda items:
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 GIS’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 GIS’ consolidated financial statements for the financial year ended 31 December 2021.
4. Approved of GIS’ consolidated financial statements for the financial year ended 31 December 2021.
5. Approved the 2021 Corporate Governance Report.
6. Approved the Board’s recommendation for no dividend payment for the financial year ended 31 December 2021.
7. Absolved the Board of Directors from liability for the financial year ended 31 December 2021.
8. Appointment of KPMG 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.