Milaha Announces AGM/EGM Meetings Agenda Due on 15/03/2017

 

February 28, 2017

 

Qatar Navigation Company (Milaha) has announced the agenda of their ordinary and Extraordinary General Assembly to convene on Wednesday 15 March 2017 4 p.m. in (Marqab Hall) seasons-Doha. If the quorum is not met, the second meeting will be held on Tuesday 21 March 2017 4 p.m. at the same hotel.  

 

The agenda for the Ordinary General Assembly Meeting is:

 

1.         Chairman’s Message, presenting the Board of Director’s report on Milaha Group’s operation and financial position for the year ending 31.12.2016, and the prospective plan of the Group; and approving of both.

 

2.         Presentation of the Auditor’s report on the Financial Statements of Milaha Group for the financial year ending 31.12.2016, and approving of same.

 

3.         Discussion on the Statement of Financial Position and Statement of Income of Milaha Group, and approving of same.

 

4.         Review of the Group’s annual Governance report for 2016, and approving of same.

 

5.         Review of the Board’s recommendation on distribution of cash dividends to the shareholders at 35 % of the nominal share value, amounting QR 3.5 per share, and approving of same.

 

6.         Discharge of the Board of Directors members’ liability for the financial year 2016, as well as approving the remunerations recommended to them.

 

7.         Appointing an Auditor for the fiscal year 2017 and deciding his fees.

 

The agenda for the Extraordinary General Assembly Meeting is:

 

1.         Addition of Truck Trading activity reading as follows: 

 

“Truck trading, and owning, selling, hiring, and leasing of all types of trucks.”

 

2.         Addition of a new provision for ensuring the rights of the company’s minority shareholders, as required by Qatar Financial Markets Authority through its letter dated 11.10.2016, reading as follows : 

 

“In the event of approving substantial transactions which the minority shareholders had voted against, the minority shareholders may submit a grievance to the Board of Directors for ensuring that they would not be impaired by such transactions”

 

3.         Amending the provision of Article 34 of the company’s Articles of Association by adding the following extra paragraph to the seventh line of that Article to read as follows:

 

 “The number of meetings should not be less than six as minimum in a financial year. The resolutions issued off meeting shall be counted within the number of Board meetings”