Estithmar Holding Q.P.S.C. announced the results of the Extraordinary General Assembly meeting that was held on 07/24/2023, where the following was approved:
First: The Extraordinary General Assembly ratified and agreed, without any objection or reservation, to cancel the first decision of Clause 1 related to the private placement and issuance of rights, which was taken at the Extraordinary General Assembly meeting held on November 27, 2022, and to issue a new decision as follows:
Approving the issuance and offer of up to (50%) of the company’s capital, where the issuance will be as follows, 10% through the issuance of subscription rights and 40% through a private placement and/or public subscription, provided that each of them is issued in one tranche or several tranches over the course of one year starting from the date of this assembly. The extraordinary general assembly authorizes the company’s board of directors to determine the percentage of the issuance that will take place through a private placement and/or the percentage of public subscription that will take place through public subscription, according to what the board deems appropriate for the company, within the limits of 40% of the company’s capital and in accordance with the applicable rules and regulations of the Qatar Financial Markets Authority, provided that the nominal value of one share in any of the three transactions is one (1) Qatari riyal, in addition to an issuance premium determined by the board based on any of the three operations.
Second: The Extraordinary General Assembly ratified and approved, without any objection or reservation, the authorization of Messrs. the Chairman of the Board of Directors of the company and/or the Vice-Chairman of the Board of Directors to approve on behalf of the Investment Holding Company and its subsidiaries (registered in or outside the State of Qatar) or owned by it (“all referred to as group companies”) on financing contracts for projects related to the activities of these companies (projects related to financing facilities), whatever their duration, including those that exceed three years, without a financial ceiling, and on the terms that the Chairman of the Board of Directors deems appropriate and / or the Vice-Chairman of the Board of Directors is suitable for the interest of the group companies and to authorize the Chairman of the Board of Directors of the company and the Vice-Chairman of the Board of Directors individually or the Chief Executive Officer or the Chief Financial Officer of Investment Holding Q.P.S.C. jointly with any member of the Executive Committee to sign on behalf of the group companies the projects financing contracts and to sign the documents of guarantees, solidarity guarantees, contracts of transfers of rights, mortgage contracts of all kinds and related checks.
Third: With the exception of project financing contracts subject to Clause No. 2, the General Assembly agreed to re-authorize the Board of Directors the right to approve on behalf of the Investment Holding Company and its subsidiaries (registered in or outside the State of Qatar) or owned by it to conclude loans and bank facilities contracts intended for example but not limited to (Corporate Loans, Long term Loans, short term loans, revolving loans and facilities, trade finance facilities and letters of guarantees)) from banks inside or outside the State of Qatar, whatever their duration, including those that Their terms exceed three years, without a financial ceiling, regardless of the borrowing currency, and under the conditions that the company’s board of directors deems appropriate for the interest of the group and its subsidiaries and owned companies.
And to authorize Messrs. the Chairman of the Board of Directors of the company and the Vice-Chairman of the Board of Directors individually or the Chief Executive Officer or the Chief Financial Officer of Investment Holding Q.P.S.C. jointly with any member of the Executive Committee to sign on behalf of the group companies the contracts of loans and bank facilities intended for example but not limited to (Corporate Loans, Long term Loans, short term loans, revolving loans and facilities, trade finance facilities and letters of guarantees) and to sign documents of guarantees, solidarity guarantees, contracts of right transfers and contracts Mortgage of all kinds and related checks.