General Assembly of Al Khaleej Takaful Endorses Agenda Items and Okay Distribution of 5% Cash Dividend

April 18, 2019

Al Khaleej Takaful Insurance Company announced the results of its Ordinary and Extraordinary General Assembly held on 17/04/2019 and has approved the following resolutions:

Ordinary General Assembly:

1-      Heard the Board of Director’s Report about the company’s activities and financial position and major transactions for the year ending 31.12.2018 and the future plan of the company.

2-      Heard the Auditors’ Report about the company’s financial statements for the year ended 31/12/2018.

3-      Heard the Sharia’s Authority Report on the activities for the financial year 2018.

4-      Discussed and approved the balance sheet of the company and accounts of profits/losses for the fiscal year ended 31/12/2018 and approved the Board’s recommendation to distribute 5% cash dividends to shareholders.

5-      Discharged the Board Members of any liability for the fiscal year 2018 and determined their remuneration.

6-      Discussed the company’s Governance Report for the year 2018.

7-      Appointed the External Auditor for the year 2019 and determined their fees.

8-      Approved transaction with related parties.

Extraordinary General Assembly:

First: Amended Article (3) of the Articles of Association concerning the company's purposes by adding the following paragraphs:

A.    Extended warranty services:

The company carries out extended warranty insurance for vehicles, equipment, electronic and electrical equipment.

B.     Selling insurance salvage:

Sale of damaged cars, electrical and electronic equipment and all insurance salvage of any type.

Second: Amended the Articles of Association in accordance with the decision of the Board of Directors of Qatar Financial Markets Authority, issued on 16 December 2018, regarding the split of the nominal value of the share.