Widam AGM Endorses Its Agenda Items, Approves Proposed 45% Cash Dividend and Postpones EGM to 3/3/2019

February 25, 2019

Widam Food Company announced the results of its Ordinary General Assembly meeting that was held on 24/2/2019, and approved the following resolutions:

1.      Approved the report of the Board of Directors on the company’s activities, financial position for the year ended 31 December 2018, and its future plans.

 

2.      Approved the report of the External Auditors on the company’s Financial Statements for the year ended 31 December 2018.

 

3.      Approved the balance sheet and profit and loss for the year ended 31 December 2018.

 

4.      Approved the Corporate Governance Report for 2018.

 

5.      Approved the distribution of cash dividends to shareholders at the rate of (45 %) of the nominal share value, i.e. QR 4.50 for each share.

 

6.      Approved the release of the members of the Board of Directors from liability for the financial year ended 31 December 2018, and determined their fees.

 

7.      Elected members to the Board of Directors for the period (2019-2021).

 

8.      Appointed KPMG Company as an External Auditor (For the year 2019).

As for the Extraordinary General Assembly meeting, scheduled to be held after the Ordinary General Assembly, and since the quorum was not completed, it was decided to postpone the meeting to the second date on Sunday, 3/3/2019 at the same time and venue.