General Assembly of Medicare Group Approves Agenda Items

April 08, 2019

MediCare announced the results of its Extraordinary General Assembly held Sunday, 7 April 2019, where the following has been approved:

1-      The Board’s recommendation to extend the duration of the company for a period of (50) fifty years as of end of the current period of the company on 02/02/2020.

2-      Split the nominal share value from QR 10 (ten Qatari Riyals) to QR 1 (one Qatari Riyal) to comply with the decision of Qatar Financial Market Authority (QFMA) issued on 16/12/2018, and amend the relevant articles in the company's Article of Association to reflect this change.

3-      Delegate the chairman and/or his deputy to exclusively sign the amended Articles of Association, certify it and take all necessary proceedings to implement the decisions of the Extraordinary General Assembly meeting and complete the procedures of publishing the amendments in the official gazette.