Woqod Approves Agenda, Distribution of 70% Cash Dividend & 9% Bonus Shares

March 06, 2017

Qatar Fuel Company (woqod) announced the resolutions of Ordinary General Assembly Meeting held on 05.03.2017   the following resolutions were passed: 

1-         The speech of HH the Chairman of the Board of Directors.

2-         Ratification of the Board’s report on the Company’s business and its financial standing, for the fiscal year ending on 31/12/2016 and discussion of the future plan of the Company.

3-         Ratification of the External auditor’s report on the Balance Sheet of the Company, for the fiscal year ending on 31/12/2016.

4-         Ratification of the Balance Sheet of the Company, along with the profits and losses account for the fiscal year ending on 31/12/2016.

5-         Approval of the recommendation of the Board to distribute the profits at 70% of the par value of the share, at the rate of QR7/share, moreover, Bonus Shares will be distributed at the rate of 9%, i. e. 9 shares for each 100 shares, this shall be for the fiscal year ending on 31/12/2016.

6-         Discharge of the members of the Board, for the fiscal year ending on 31/12/2016 and fixing their remuneration ,

7-         The election of four members of the Board of Directors for three years from 2017-2019.

8-         Approval of the appointment of the External Auditor, for the fiscal year 2017 and fixing his remuneration.

9-         Ratification of the Governance report for the fiscal year 2016.

The Extraordinary General Assembly Meeting has been adjourned for lack of quorum. The next meeting will be held on 05 April 2017 at the same time at WOQOD Tower .