The EGM of QIIB Approves the Split of Nominal Value of the Share to Become QR 1

March 25, 2019

QIIB announced that it has held the Extraordinary General Assembly meeting on Sunday, 24 March 2019, at 5:30pm at Ezdan Towers Al Dafna, led by chaired by Mr. Rashid Saree Al Kaabi (Deputy to the Chairman of the Board) whereat the bank approved all agenda items as follows:

1-      Approved the recommendation of the Board of Directors to amend Article (76) to allow the ownership of foreign investors at a maximum of 49% of the Bank's capital, instead of the previous 25%.

2-      The EGM approved the recommendation of the Board of Directors to amend Article (5), to subdivide the share value in accordance with the decision of the Qatar Financial Market Authority, to become QR 1 instead of QR 10. Article (5) will be amended to read as follows:

“The company's share capital is QR 1,513,687,490 subdivided into 1,513,687,490 shares with a nominal value of QR 1 each.”

3-      The EGM authorized the Chairman or Deputy Chairman to make amendments to the Articles of Association in line with the Extraordinary General Assembly resolutions, and to sign the amended Articles of Association before the official authorities.