Qatar Aluminium
Manufacturing Co. to Announce Its Results for December 2018
February 20, 2019
Qatar Aluminium Manufacturing
Company (QAMCO) announced that the Board of Directors will
release the results of December 2018 together with its full
financial year 2019. The Board says that one month of operations
is too short to report for substantial financial and operational
information.
It should be noted that the company
has obtained the necessary approvals from the Ministry of
Commerce & Industry to amend the its Articles of Association to
have the first financial year of the company end on 31 December
2019, hence QAMCO will be disclosing 13 months financial
statements at the end of 2019. The first financial report of the
company will be for four months ending 31st March, 2019, and
will be announced in April of the same year.
The Board of Directors will declare
an interim dividend to shareholders of the Company along with
its Q1 2019 disclosure. The interim dividend that will be
declared will pertain to the six months period from 1st July
2018 to 31st December 2018, in line with the company’s IPO
prospectus and the founder’s economic rights waiver.
QAMCO will hold its Ordinary General
Assembly meeting on 13th March, 2019, for the shareholders of
the company, to listen to the Chairman’s message, approve the
Board’s recommendation for interim cash dividends along with the
disclosure of the financial results for the first quarter of
2019, and to appoint the external auditors for the financial
year ending December 31, 2019.
The company will also hold an
Extraordinary General Assembly meeting on the same day to
approve the amendments to the company’s Article of Association
in order to have the first financial year ending on 31st
December 2019, and amend the nominal value of the shares of the
company to become one (1) Qatari Riyal.
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