Qatar Insurance AGM Approves Distributing 15% Cash
Dividend and 15% Bonus Shares
February 19,
2019
Qatar Insurance Company announced
the resolutions of the General Assembly
meeting which took place on the 19 of
February 2017, approved the following:
1. The
Directors Report on the activities of the
Company, its financial positions for the
year ended 31st Dec. 2016, and the future
plan.
2. The auditor’s
report for the financial information 2016.
3. The
company’s balance sheet, and its profit &
loss account for the year 2016.
4. The
recommended profits distribution, being cash
dividend of (15%) (fifteen percent), i.e.
QR. (1.5) for each
share and determine the date of payment, in
addition to bonus issue of 15%, i.e. (three
share for each twenty shares). The bonus
shares will be issued after approving this
increase in capital and obtaining the
necessary approvals from the respective
governing bodies, in addition authorizing
the board of directors to act accordingly
with the share's fraction)
5.
Discharging the members of the Board of
Directors, and approving their remuneration
to be QR. (18) million.
6. The
Corporate Governance Report for the year
2016.
7.
Appointing Ernest & Young auditors for the
Financial Year 2017.
8.
Electing the members of the Board of
Directors for the period (2017 - 2019) with
no contest as per the attached list:
1)
SH. KHALID BIN MOHAMMED BIN ALI AL-THANI
(PERSONAL)
2)
MR. ABDULLAH BIN KHALIFA AL ATTIYA
(PERSONAL)
3)
SH. JASSIM BIN HAMAD BIN JASSIM BIN JABOR
AL-THANI
(Al Merqab Capital)
4)
SH. HAMAD BIN FAISAL BIN THANI AL THANI
(PERSONAL)
5)
MR. HUSSAIN IBRAHIM AL-FARDAN
(PERSONAL)
6)
Mr. Ali Youssef Hussain Kamal
Al Kamal Int.
7)
SH. Faisal Bin Thani Bin Faisal Al Thani
(BROOG TRADING COMPANY)
8)
SH. Abd El Rahman Bin Saoud Al Thani
(PERSONAL)
9)
MR. JASSIM MOHD. AL JAIDAH
(JAIDAH MOTORS & TRADING CO.)
10)
SH. SAOUD BIN KHALID BIN HAMAD AL-THANI
(PERSONAL)
11)
MR. KHALAF AHMED AL MANNAI
(STATE OF QATAR)
Also the Extraordinary General
Assembly took place on the same date,
approved the following:
1) the increase in
the number of members of the Board of
Directors with effect from the next session
(2017 2019) to be (11) members, and amend
Article 36 of the article of association of
the company, to read as follows:
The company shall be managed by
the Board of Directors composed of nine
members, the government of the State of
Qatar will appoint one of them representing
its shareholding and eight others elected by
the Ordinary General Assembly through secret
ballot.
The member nominated by the
government of the State of Qatar shall not
have the right to participate in the
election of the other members of the Board
of Directors.
2) Approving the
increase in the company's capital post the
effect of bonus issue of (15%), i.e. (three
shares for each twenty shares). The bonus
shares will be issued after approving this
increase in capital and obtaining the
necessary approvals from the respective
governing bodies, authorizing the board of
directors to act accordingly with the
share's fraction) in addition Amend article
(7) of the company's articles of association
to reflect the effect of the increase in
capital.
3) Approving the
amendment of the company's articles of
association adding the following paragraph
to the preamble:
To consider the provisions of the
Commercial Companies Law No. (11) for the
year 2015, shall apply to the financial
services offered by the company, as well as
the case of merger or liquidation, the
provisions of the law of Qatar Central Bank
and the regulation of financial institutions
promulgated by Law No. (13) for the year
2012.
4) Authorizes the
Chairman or his deputy signing solo on all
documents needed to amend the article of
association of the company.