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.