Al Meera EGM Approves the Split of Nominal Value of Its Share to Become QR 1

March 25, 2019

Al Meera Consumer Goods Company announced that the Extraordinary General Assembly meeting was held on Sunday, 24 March 2019, whereat the following resolutions have been taken:

1.      Approved the split of the par value of the ordinary share to be QR 1 instead of QR 10, as per the instructions of Qatar Financial Market Authority, and the amendment of the following Articles of Association as shown below:

-        Amendment of Article (5) of the Articles of Association to become:  the nominal value of the share is (QR 1) “one Qatari Riyal”. Consequently, the issued and subscribed capital is (QR 200,000,000) (200 million Qatari Riyals) and distributed over (200,000,000) (200 million shares.)

-        Amendment of Article (6) of the Articles of Association, increasing the number of cash shares, and the total number of shares to be from (20,000,000 20 million) to (200 million, two hundred million)

-        Amendment Article (7) of the Articles of Association and amend the nominal share amount from (QAR 10) to (QAR 1)

-        The amendment of paragraph (3) of Article (26) of the Articles of Association, regarding the contribution of the member of the Board of Directors from (2000) shares upon his election. To become (20,000) shares at the time of his election.

2.      Approval of Qatar Exchange's request to consider increasing the percentage of foreign ownership in the company’s capital to 49%.

3.      Endorsing the authorization of the Board to execute the above-mentioned resolutions before official bodies in the state.

4.      Approve the donation of QR 104,364.21 to charities, the amount of the sale of fractional shares as per instruction of Qatar Central Depository Company, to disposing of fractional shares.