Mekdam Holding Group announced the results of the extraordinary general assembly meeting held on 21/11/2023, where the following was approved:
1. Approval to cancel the maximum ownership percentages stipulated in Article No. (21) of the bylaws: “With the exception of the founders, the total owned by a single shareholder, directly or indirectly, may not exceed 5% of the company’s total shares.”
2. Approval of amending the maximum ownership percentages stipulated in Article No. (21) of the Articles of Association so that it becomes “Non-Qatari investors may own a percentage of up to 100% of the company’s capital.” Instead of the current text: “Non-Qatari investors may own a percentage not exceeding 49% of the company’s capital.”
3. 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.