Nakilat AGM Endorses Agenda, Approves Distribution of 10% Cash Dividend

March 21, 2018

Qatar Gas Transport Company Limited (Nakilat) held the Annual Meeting of the Ordinary General Assembly at 06:30 pm on Tuesday, 20/03/2018 at (Al Mirqab Ballroom) in Doha Four Seasons Hotel, the General Assembly discussed the items listed on its agenda and issued the following resolutions:

Resolution No. [01/2018]:

Hearing and Ratify the Report of the Board of Directors on the Company's Activities and Financial Position during the Fiscal Year Ended 31/12/2017 and Future Plans:

RESOLVED, that the General Assembly ratifies the Board of Directors report on the company's activities and its financial position during the year ended 31/12/2017 and future plans.

Resolution No. [02/2018]:

Hearing and Ratify the External Auditor’s Report on the Fiscal Year Ended 31/12/2017:

RESOLVED, that the General Assembly ratifies the External Auditor’s report on the fiscal year ended 31/12/2017.

Resolution No. [03/2018]:

Discuss and Ratify the Company’s Balance Sheet and Profit & Loss Account for the Fiscal Year Ended 31/12/2017:

RESOLVED, that General Assembly ratifies the Company’s Balance Sheet and Profit & Loss Account for the Fiscal Year Ended 31/12/2017.

Resolution No. [04/2018]:

Discuss and Adopt the Governance Report for the Year Ended 31/12/2017:

RESOLVED, that the General Assembly adopts the Governance report for the year ended 31/12/2017.

Resolution No. [05/2018]:

Consider the Board of Directors Suggestions Regarding Distribution of Cash Dividends for the Fiscal Year Ended 31/12/2016 and Approve it:

RESOLVED, that the General Assembly approves the distribution of cash dividend to the shareholders by (10%) of the capital, equivalent to one (1) Qatari Riyal per share, for the fiscal year ended 31/12/2017.

Resolution No. [06/2018]:

Consider to Release & Discharge the Board Members From their Responsibilities and Approve their Remuneration for the Year 2017:

RESOLVED, that General Assembly approves to release & discharge the Board members from responsibilities, and approve their remuneration for the fiscal  year ended 31/12/2017 to be as last year as following:

-           Chairman:            QR   1,000,000  

-           Vice Chairman:    QR   900,000  

-           Member:                QR  800,000  

Resolution No. [07/2018]:

Appointment of External Auditor for the Fiscal Year 2017 and Determine their Fees:

RESOLVED, that General Assembly approves the appointment of the External Auditor (KPMG) for Nakilat and its affiliates for the fiscal year 2018, with total fees (1.295.000) one million and two hundred ninety five thousand Qatari Riyals.   

All competent authorities, each within its own field of competence, shall enforce these resolutions, which shall be effective as of the date of its issuance.