MediCare Approves AGM Agenda, Okays 30% Cash Dividend, and Postpones EGM

April 01, 2019

MediCare Group announced the results of its Ordinary General Assembly meeting held on Sunday, 31 March 2019. The following were approved:

1.      The Assembly heard and approved the Board of Directors' report on the activities of the company and its financial position during the financial year ended 31/12/2018 and the future plan.

2.      The Assembly heard and approved the auditor's report on the company's budget and the final accounts for the fiscal year ended 31/12/2018.

3.      The company discussed the balance sheet and the profit and loss account for the financial year ended 31/12/2018 and approved them.

4.      The General Assembly approved the recommendation of the Board of Directors to distribute cash dividend of 30% from the par value of the share (i.e. QR3 per share).

5.      The General Assembly discharged the members of the Board of Directors for the financial year ended 31/12/2018.

6.      The General Assembly considered the Corporate Governance Report for the year 2018 and adopted the report.

7.      KPMG was appointed as auditor for the fiscal year 2019.

8.      The Board approved the recommendation of the Board of Directors to allocate QR1 million to treat outstanding and non-reimbursable cases and authorized the Board of Directors to dispose of this amount and to establish criteria, controls and eligibility requirements.

The Extraordinary General Assembly meeting was postponed to the alternative date, which will be held on Sunday, 7 April 2019, at 6.30pm at the same venue.

To view the profit distribution announcement click here