29-04-2022
Ezdan Holding Group announced the results of the Ordinary and Extraordinary General Assembly meeting held on 28/04/2022, where the following was approved:
First: Resolutions issued by the Ordinary General Assembly meeting for the fiscal year ending on 31/12/2021:
1. Approval of the report of the Board of Directors on the activity of the group and its financial position for the fiscal year ending on 31/12/2021 and the future plan of the group for the year 2022.
2. Approval of the auditor’s report on the company’s budget and financial position for the year ending on December 31, 2021.
3. Approval of the group’s annual general budget and profit and loss account for the financial year ending on December 31, 2021.
4. Approval of the board of directors' recommendation not to distribute dividends.
5. Approval of the group’s corporate governance report for the year 2021.
6. Approval of the auditor’s report on the requirements of Article (24) of the Corporate Governance Code for Companies and Legal Entities Listed in the Main Market issued by Qatar Financial Markets Authority Resolution No. (5) of 2016.
7. Discharging the members of the Board of Directors from liability for the financial year ending on 31/12/2021 and not granting them bonuses due to non-distribution of profits.
8. The members of the Board of Directors elected by acclamation for the next three years for the period from 2022 to 2024, and they are as follows:
First: Th non-independent category:
Al Sarh Business Company, represented by His Excellency Sheikh / Thani Abdullah Thani Jassim Al Thani.
Imtilak Trading, Contracting and Real Estate Investment Company, represented by His Excellency Sheikh / Dr. Khaled Thani Abdullah Thani Al Thani.
Shaseh Trading and Real Estate Investment Company, represented by His Excellency Sheikh/ Mohammed Thani Abdullah Thani Al Thani.
Al-Tadawul Trading Group, represented by His Excellency Sheikh Khalifa Thani Abdullah Thani Al Thani.
Second: The independent category:
Mr. Ayed Ibrahim Al-Mahdi Al-Qahtani.
Mr. Walid Ahmed Ibrahim Al Saadi.
Mr. Amr Shafiq Mustafa Omar Ajoura.
9. Approval of the settlement of the dues of Sak Holding Group in the real estate projects developed by the development partnership, in which the decision of the General Assembly was issued in its meeting on 20/11/2013, according to the average of the three assessments prepared, amounting to (1,471,336,547) Qatari riyals and that those dues be paid in cash or in kind. And authorizing the Chairman of the Board of Directors, the Vice Chairman and the Managing Director individually to conclude contracts regarding the payment of in-kind dues and the conclusion of the final settlement.
10. Approval of the appointment of Messrs. / MAZARS as an external auditor for the group for the fiscal year 2022.
Second: Resolutions issued by the Extraordinary General Assembly meeting:
1. Approval of increasing the percentage of non-Qatari ownership in the group’s capital to 100% after obtaining all the necessary approvals from the concerned authorities and completing obtaining the approval of the Council of Ministers in accordance with the provisions of Article (7) of Law No. (1) of 2019 regulating capital investment Non-Qatari money in economic activity.
2. Approval of the proposed amendments and additions to the Articles of Association of Ezdan Holding Group to comply with Law No. (8) of 2021 amending some provisions of the Commercial Companies Law promulgated by Law No. (11) of 2015 and Corporate Governance System No. (5) of 2016 (attached)
3. Delegating the Chairman / or the Vice Chairman and / or whomever the Board delegates to sign the amended Articles of Association of the Group and complete the necessary procedures in this regard.