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Qatar Cinema & Film Distribution Company announces that, the meeting of Ordinary General Assembly & Extraordinary was held on Wednesday 3/4/2019 and The following resolutions were passed:
Resolutions of Ordinary General Assembly
1) The AGM approved the management report on the company activities and its financial position for the year ended 31/12/2018 and discussed the company’s future business plans..
2) The AGM approved Auditor’s Report for the audited financials and final account for the year ended 31 December 2018.
3) The AGM discussed the company balance sheet and profit and loss account of the financial year ended 31/12/2018, the AGM approved the Auditors’ Report on the Company’s Financial Statements.
4) The AGM Approved the Board’s recommendation for a dividend payment of QR 1.50 per share, representing 15% of the nominal share value.
5) The AGM approved Corporate Governance Annual Report for 2018.
6) The AGM absolve the Chairman and members of the Board of Directors from any liability for the financial year ended 31 December 2018 and to approve their remuneration.
7) The AGM decided to appoint M/s Talal Abu-Ghazaleh & Co. International as External Auditor for the year 2019
8) The following members were elected to the Board of Directors’ membership (Uncontested) for the coming three years:
1. Mr. Ahmad Abdul Rahman Nasir Fakharoo
2. Mr. Ali Ishaq Hussein Al-Ishaq
3. Mr. Khalifa Abdulla Hussein Al-Naama
4. Mr. Mohamed Ali J. A. Al-Sulaiti - Independent
5. Mr. Saoud Abdulaziz Al-Darweesh
6. Mr. Abdulrahman Abdulaziz Al- Darweesh - Independent
7. Mr. Nasser Ahmad Abdul Rahman Fakharoo
Resolutions Extraordinary General Assembly:-
1) The Extraordinary General Assembly approved the amendment of article No: (5) of the memorandum of association of the company, by dividing the share value, to become the nominal share value one Qatari riyals, instead of ten Qatari riyals.
2) The Extraordinary General Assembly approved to add a new article to the memorandum of association, by increasing the maximum cap of the non-Qatari possession of the company shares, to be (49%).
3) The Extraordinary General Assembly approved the amendment of article No: (9) of the memorandum of association of the company, by increasing the shareholder possession of the company shares, to be (10%) instead of (5%).
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