Qatari Investors Group announces the results of the Ordinary General Assembly Meeting held on 21/2/2018 and has approved the following resolutions:
— Approved the Board of Directors’ report on the Company’s activities and its financial position during the year ended on 31 December 2017 and the Company’s business plan for 2018.
— Approved the report of the External Auditor on the Company’s budget, financial position and final accounts submitted by the Board of Directors.
— Approved the company’s budget and statement of profits and losses for the year ended on 31 December 2017.
— Approved the Board of Directors’ recommendation to distribute a cash dividend of 7.5% of the share nominal value (i.e. QR 0.75 per share).
— Approved the Corporate Governance Report of 2017.
— Approved the policies and procedures stipulated in the corporate governance system and legal entities listed in the main market.
–The General Assembly decided by majority (all present except the Ezdan Group companies) mandated the Board of Directors to submit a complaint to the government authorities, mainly the Ministry of Economy and Commerce and the Qatar Financial Markets Authority against Ezdan Holding Company and its subsidiaries for raising dozens of repeated malicious cases, demanding the dissolution and liquidation of Qatari Investors Group that are harming the interests of the Company and its shareholders, extorting the company as a result of Qatari Investors Group denying Ezdan Holding Company and its subsidiaries from owning more than the percentage of shares stated in the Company’s statute.
The Assembly also decided to mandate the Board of Directors of the Company to take the necessary action to sue Ezdan Holding Company and its subsidiaries for damages and losses incurred by the Company and the shareholders as a result of repeated frequent malicious cases.
— Absolved the members of the Board of Directors from any liability for the financial year ended on 31 December 2017 and determine their remuneration.
— Appointed Deloitte & Touché as the External Auditor for the financial year 2018 and determine their fees.