Gulf Warehousing
Holds Its Extraordinary General Meeting On 30/10/2017
October 04, 2017
Gulf Warehousing Company (GWC) announces its call to convene its
Extraordinary General Meeting (EGM) on Monday, October 30, 2017
at 6:30 pm at the Four seasons Hotel Al Debel Hall. Should
quorum not be met, the company will hold a second meeting on
Wednesday November 08, 2017at the same time and place. The
meeting will concern the following agenda:
1. Approval to amend the Article (32) of AOA by adding all the
responsibilities of the Board of Directors to comply with the
requirements of Article (9) of the Corporate Governance
Regulations issued by Qatar Financial Markets Authority.
2. Approve the amendment of Article (25) of the AOA to comply
with the provisions of Article (35) of the Code of Governance
regarding the secret ballot for the BD election, and amend it to
be the Board of Directors election should be through secret vote
in a cumulative manner. At least one-third of the Board Members
shall be Independent Board Members, the majority of the Board
members shall be Non-Executive Board Members; and a seat or more
of seats may be allocated to represent the Minority and another
to represent the Company employees.
In all cases, the Board composition shall ensure that one member
or more do not dominate issuing the Board decisions.
3. Approval of the amendment of Article (26) of the AOA to
comply with the provisions of Article (5) of the Governance
code, which is about the Requirements for the Board Members.
4. Approve the amendment of Article (28) of the AOA to comply
with the provisions of Article (35) of the Code of Governance
regarding the secret ballot for the BD election, and amend it to
be “the Board of Directors election should be through secret
vote in a cumulative manner.”
5. Approval of the amendment of Article (30) of the AOA, to
become
A. “The Board of Directors shall elect by secret ballot a
chairman and a Vice-President for a term of three years.
B. The Board of Directors may elect by secret ballot one or more
Managing directors, who shall have the right to sign the company
together or individually in accordance with the decision of the
Board.
C. The Board of Directors may appoint one of its members to
perform executive functions in the management of the Company in
return for remuneration or paid amount determined by the Board.
D. The board of directors may form one or more committees of its
members according to the requirements of the work, in return for
remuneration determined by the Board.
6. Approve the amendment
of article (45 paragraph 2) of the AOA to comply with the
corporate governance code, in particular article (32 item 8), to
add an item that ensure the right of every shareholder to object
to any decision deemed to be issued in favor of a particular
category of Contributing to or detrimental to the shareholders
or brings special benefit to Board Members or others without
regard to the interest of the company.
7. Approval to amend Article (56) of the Article of Association
to comply with the corporate governance code, especially Article
(37), by adding an article to protect the minority shareholders
rights and the mechanism used.
8. Amend some of the spelling errors in the AOA, especially in
Articles 5, 31, 47 and 49.
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