14-09-2020
Industries Qatar Company announced that its extraordinary AGM held yesterday, Sunday, 13 September 2020 via Zoom App, has ratified all the items listed on its agenda (as below), including the acquisition of Qatar Petroleum’s stake ‘25%’ in Qatar Fertilizers Company ‘QAFCO’:
1. Ratification of the acquisition of Qatar Petroleum’s stake in Qatar Fertilizers Company ‘QAFCO’ ‘25%’ against USD 1.0 billion.
2. Ratification of the proposed amendment to company’s articles of association on the formation of the Board of Directors.
The new formation of the Board will take effect from the next Board term which will start from the date of holding the ordinary AGM for approving the 2020’s financial statements.
3. Authorization of the Board of Directors to negotiate, approve, sign and take the necessary actions to conclude a long-term strategic partnership agreement with Qatar Petroleum for the purpose of streamlining the relationship between Qatar Petroleum and Industries Qatar.