AGM and EGM of QEWC Approves Distributing 75% Cash
Dividends
March 06, 2017
Qatar Electricity and Water
Company (QEWC) announced the resolutions of the Annual General
Meeting (AGM) and the Extraordinary General Meeting (EGM) held
on Monday 6 Mach 2017. The following resolutions were passed:
GENERAL ASSEMBLY MEETING:
1. The Directors report on the
activities of the company, its financial position for the year
ended 31/12/2016 and the future plans for the company.
2. The auditor’s report for the
year 2016.
3. The company’s balance sheet and
profit and distribution of profits being each dividend of 75%
from the original share value.
4. Discharge the members of the
Board of Directors from their responsibilities and approving
their remuneration.
5. Appointment Ernst &Young as
company auditors for the financial year 2017, with a fees
amounting to QR 300,000/-.
6. Corporate Governance Report for
the year 2016.
7. Approve of the candidates win
the three applicants to fill the board seats for the category of
contribution and the four candidates for the category of private
companies and individuals by acclamation as per the attached
list.
EXTRAORDINARY GENERAL MEETING:
1. Approve the amendment to the
AOA of the Company in accordance with the provisions of the
Commercial Companies Law promulgated by Law No. 11 of 2015,
according to the model pilot from Companies Control Department
of the Ministry of Economy and Trade.
2. Authorize Chairman of the Board
to make adjustments and to take all necessary procedures with
the competent authorities in this regard.
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