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QFB'S EGM APPROVES 65% CAPITAL REDUCTION

17 September 2019 09:11 AM
QFB'S EGM APPROVES 65% CAPITAL REDUCTION

 

Qatar First Bank (QFB) announced the results of its Extraordinary General Meeting (EGM) held at 4:00 pm on Monday, September 16, 2019 at the Bank Hall of QFB Headquarters, Doha, Qatar. The results of the EGM were as follows:

 
1. As per the special resolution, approve the QFB’s capital reduction by 65% to QR 700 million, subject to regulatory approval.
2. As per the special resolution, approve the amendment of the QFB’s Articles of Association by adding and amending certain articles in respect of capital reduction and regulatory requirements.
3. Approve the exception of Barzan Holding Company from the approved cap in respect of the Bank's transactions with the parties related to the Board of Directors for 2019 (either directly or indirectly)

To view the press release, click here https://bit.ly/2lZDMmj

 

#Qatar #Qatar_Exchange #News #QFB

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