Zad Holding Holds its Ordinary and Extraordinary General Assembly on 23/4/2019

April 02, 2019

Zad Holding Company’s Board of Directors invited shareholders to attend the Ordinary and Extraordinary General Assembly meetings that will be held at 5:00pm, Tuesday 23 April 2019, at the Sharq Hotel & Resort in Ras Bouaboud area in Doha. In case the quorum was not completed, the first alternative date will be 30 April 2019, at 5:00pm in the same venue, and the second alternative date will be Sunday, 19 May 2019 at the same time and location.

Ordinary General Assembly Agenda:

1.      Hear the report of the Board of Directors on the Company's activity and financial position during the financial year ended 31/12/2018 and its future plans.

2.      Hear the auditor's report on the company's budget for the fiscal year ended 31/12/2018.

3.      Discuss and approve the balance sheet and profit and loss account for the fiscal year ended 31/12/2018.

4.      Approve the recommendation of the Board of Directors to distribute profits for the financial year 2018 at 85% cash dividend.

5.      Release the members of the Board of Directors from the responsibility for the financial year ended 31/12/2018 and the adoption of bonuses.

6.      Discuss and approve the Governance Report for the year 2018.

7.      Appoint External Auditors for the fiscal year 2019, and determine their fees.

Extraordinary General Assembly Agenda:

1.      Approve the recommendation of the Board of Directors to amend the Articles of Association of the Company in accordance with the decisions of Qatar Financial Markets Authority to split the nominal value of the share to become 1 Qatar Riyal and amend the Articles of Association and Memorandum of Association of the Company.

2.      Approve the recommendation of the Board of Directors to amend the Articles of Association of the Company in accordance with the decisions of Qatar Financial Markets Authority to increase the percentage of non-Qatari investors to 49% of the company's capital and amend the articles of the Articles of Association and Memorandum of Association.

3.      Approve the recommendation of the Board of Directors to amend Article 69 of the Articles of Association of the Company to read: (on the proposal of the Board of Directors, the General Assembly may decide, on an annual basis, to deduct part of the net profit for the voluntary reserve account. The voluntary reserve shall be used for the purposes decided by the General Assembly. The Company shall pay zakat on its shares on behalf of the shareholders for each financial year in accordance with the Shariah Law and shall pay it to its beneficiaries both inside and outside the State or through the charitable institutions approved by the State, and by the Board of Directors or its representatives)

4.      Authorize the Board of Directors to make the necessary amendments to the Memorandum of Association and the Articles of Association.