Qatari German Medical Devices Holds AGM and EGM on 22/04/2019 and Announces their Agenda

March 31, 2019

The Board of Directors of Qatari German Medical Devices announced that it has invited shareholders to attend the Ordinary and Extraordinary General Assembly meetings, which will take place at 6:30pm, Monday 22 April 2019, at Al Azizia Boutique Hotel. In case the quorum was not completed the first alternative date will be 6:30pm, Wednesday 24 April 2019. Yet, if the quorum was not completed again the second alternative date will be 9:00pm (During Ramadan) Sunday 26 May 2019.

Agenda of the Ordinary General Assembly Meeting:

1.      Hear the Board of Directors’ report in terms of the company's activity and financial position for the financial year ended 31/12/2018 and Company future business plans.

2.      Hear the auditors' report for the financial year ended 31/12/2018.

3.      Discuss and approve the company's balance sheet and profit and loss account ended 31/12/2018 and consider the recommendation of the Board of Directors not to distribute dividends.

4.      Discuss and approve the corporate governance report for the year 2018.

5.      Discharge the Board members for the financial year ended 31/12/2018 without remuneration.

6.      Elect the Board members for the vacant position in the current membership for the remaining period until 2021.

7.      Appoint external auditors for the financial year 2019 and determine their remuneration.

Agenda of the Extraordinary General Assembly Meeting:

1.      Amend the Articles of Association of the company to comply with the decision of the Board of Directors of Qatar Financial Markets Authority issued at its 4th meeting of 2018 held on 16 December 2018. The nominal value of the share shall become (QR 1) as a condition for listing the shares of companies in the main market and the second market (start-ups).

2.      Amend the Articles of Association of the company to raise the maximum foreign ownership in the company's capital to 49% in line with the recommendations of Qatar Exchange.

3.      Consider the recommendation of the Board of Directors to continue the operations of the company despite its accumulated losses, which amount to more than half of its capital.

4.      Authorize the Chairman of the Board of Directors or his deputy to make amendments to the Article of Association and sign the amended Article of Association and complete the procedures and obtain the legal approvals from official authorities.

The Invitation Text, click here.