QIMC Endorses Agenda and Approves Distribution of Cash Dividends at 25%

March 11, 2018

Qatar Industrial Manufacturing Co. announced the results if its Ordinary and Extraordinary General Assembly meetings that took place on 10/03/2019, as scheduled. The following were approved:

1.      The Board of Director's report on the company's activities and its financial position for the year ended 31st Dec. 2018 as well as future plans.

2.      The Auditor's report on the consolidated financial statements for the financial year ended 31st December 2018.

3.      The company's Consolidated Balance Sheet and the Profit and Loss Statement for the financial year ended 31st December 2018.

4.      Distribution of dividends (25%) of QR 2.50 per share, to its shareholders for the year ended 31 Dec. 2018.

5.      Absolve Board of Directors from liability for the financial year ending 31st December 2018 and determination of their remuneration.

6.      Appointment of Rödl & Partner as external auditor for the financial year 2019.

7.      Corporate Governance Report for year 2018.

8.      The following were elected as members of the Board of Directors for the next three year tenure (2019-2021):

-        Sheikh  Abdulrahman Bin Mohammed Bin Jabor Al-Thani

-        Sheikh Rashid Bin Awaidha Bin Mohammed Bin Thani Al-Thani

-        Mr. Nasser bin Rashid S. Al-Kaabi

-        Mr. Saad Mohamed Saad Al-Jabara Al-Rumaihi

-        Mr. Abdullah Mohammed Shamsan Al-Saada

-        Mr. Abdulmohsen Bin Yousef Al-Mana

-        Mr. Abdullah Ali Al-Abdullah

-        Al Hermaz Investment Co. representative Mr. Ahmed Youssef Hussain Kamal

The Ministry of Finance has appointed:

·         Mr. Mohammed Khaled Al Mannai, representative of Qatar Investment Authority

·         Mr. Abdulrahman Fouad Al-Madahka, representative of the General Authority for Retirement and Social Security / Civil Fund.

After the meeting of the General Assembly, the Board of Directors meeting was held to elect the Chairman and Deputy Chairman of the Board. The Board elected H.E. Sheikh Abdulrahman bin Mohammed bin Jair Al Thani as Chairman and Nasser bin Rashid Al-Kaabi as Vice Chairman.

To view the Extraordinary General Assembly resolutions click here

To view the press release click here