Qatar National Cement Company Announces the Agendas of its Ordinary and Extraordinary General Assembly
Qatar National Cement Company has announced the agenda of its ordinary and extraordinary general assembly meeting, which will be held on Sunday, 23 February 2020, at 06:30 p.m. at the Westin Hotel – Doha. However, in the event that the quorum is not met, the second meeting will be held on Monday, 24 February 2020, at the same time and place, to study the agendas of the two meetings, which will be as follows:
First: The agenda of the Ordinary General Assembly:
1- Hearing the report of the Board of Directors on the company's activity and financial position for the fiscal year ended 31 December 2019, and the future plans for the Board in the year 2020.
2- Hearing and approving the auditors' report on the company's budget for the fiscal year ended 31 December 2019.
3- Discussing and approving the budget, profit and loss account for the fiscal year ended on 31 December 2019.
4- Agreeing on distributing 30% of the capital as cash dividends to the shareholders for the fiscal year 2019, at 30 dirhams per valid share.
5- Discussing and adopting the report of corporate governance for the year 2019.
6- Releasing the quittance of members of the Board of Directors of their liability for the fiscal year ended on 31 December 2019, and agreeing on their remuneration.
7- Appointing auditors for the fiscal year 2020, and specifying their fees.
8- Electing the four members of the Board of Directors who are elected by the General Assembly of the shareholders for the next three years’ term (2020-2022).
Second: The agenda of the extraordinary general assembly: -
1- Agreeing on adding the following clause to article (9) of the amended article of association, as follows:
- Non-Qatari investors may own a percentage not exceeding (49%) of the company’s capital, in pursuant with the provisions of Law No (1) for the year 2019 regarding the regulation of non-Qatari capital investment in the economic activity.
2- Authorizing HE Mr. Chairman of the Board of Directors to take all necessary and essential measures before the competent authorities and entities to approve, document and publish the amendment cited in the amended article of association.