Mekdam Holding Group announced the results of the ordinary and extraordinary general assembly meeting held on 09/10/2023, where the following was approved:
Ordinary General Assembly:
1. Appointment, by acclamation, of Mr. Saleh Mohammed Saleh Al-Qamra Al-Nabit as a member of the Board of Directors for a period of three years from 2023 to 2026, to complete the remaining term of the resigned member’s membership.
The Extraordinary General Assembly:
1. Approval to increase the company’s capital by an amount of 30.0 million riyals through private subscription in accordance with the laws of the Qatar Financial Markets Authority, so that the company’s capital becomes 105.0 million riyals instead of 75.0 million riyals.
2. Approval of amending Article No. (5) of the company’s bylaws, so that it becomes as follows: “The company’s issued capital was set at 105,000,000 (one hundred and five million) Qatari riyals distributed among 105,000,000 (one hundred and five million) shares, the nominal value of each share.” 1 (one) Qatari riyal.", instead of the current text: "The company's issued capital is set at 75,000,000 Qatari riyals (seventy-five million Qatari riyals) distributed among 75,000,000 (seventy-five million) shares, the nominal value of each share is 1 (one) Qatari Ryal."
3. Approval of adding the share premium to the legal reserve in accordance with the text of Article 194 of Companies Law No. 8 of 2021.
4. Approval to return the net value of unsubscribed shares to holders of unsubscribed rights, after subtracting the subscription value of 2.51 riyals.
5. Authorizing the Chairman of the Board of Directors, Sheikh Mohammed bin Nawaf bin Nasser bin Khalid Al Thani, to sign the amended bylaws and to make any amendments to the bylaws that he may deem necessary in this regard. The Chairman of the Board of Directors may appear before the Documentation Department in the Ministry of Justice, and he may also carry out all procedures and sign the All documents or applications in order to obtain all necessary approvals from the Department of Corporate Affairs at the Ministry of Commerce and Industry, the Qatar Financial Markets Authority and any other department or ministry. The Chairman of the Board of Directors also has the right to authorize other persons to take the necessary steps to complete the approval of the amended bylaws and register them with the competent authorities.