Press Release AGM & EGM held on 05 March 2018

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Bruce Bennett
5 years ago
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2 2 Press Release 2018 Press Release AGM & EGM held on 05 March 2018 For the year ended 31 December 2017

3 Press Release AGM & EGM held on 05 March 2018 National Leasing Holding QSC (Alijarah Holding) held its ordinary AGM and its EGM, on Monday the 5 th of March 2018 at 4:00 pm. The event took place at Doha Marriott Hotel at Al fairoz Hall. That was followed by the announcement of quorum for convening the meeting in the presence of H.E Sheikh Falah Bin Jassim Bin Jabr Al Thani, the Chairman and Managing Director, the members of the Board of Directors, Mr. Hamad Shareef Al Emadi, Chief Executive Officer and the senior employees of Alijarah, the shareholders and representatives of the Ministry of Economy and Commerce, Sharia Supervisory Board, the external auditors and a group of journalists. The agenda of the Extraordinary & Ordinary General Assembly included the following: EGM: 1- Amend the Articles of Association of the Company in accordance with the corporate governance issued by the decision of the Board of Directors of the Qatar Financial Markets Authority No. (5) for the year Authorizing the Board of Directors to amend the Articles of Association of the Company in accordance with the corporate governance issued by the Board of Directors of Qatar Financial Markets Authority No. (5) for the year AGM 1- Hearing the statement of His Excellency the Chairman of the Board and Managing Director and the Board of Directors report on the activity of the company and its financial position for the year ended 31 December Hearing of Sharia Board report on the activity of the company for the year ended 31 December Hearing the report of Independent Auditors on the Company's financial statements for the year ended 31 December Discussing and approving the Financial Statements of the company for the year ended 31 December Approving the Board's proposal to distribute a dividend of 5% of the nominal value per share at the rate of 0.50 QR. 6- Absolve the Boards of Directors Members for the year ended 31 December 2017 and fixing their fees. 7- Discussing and approving the Corporate Governance Report for Appointing an External Auditor for the Company and fixing their fees. 9- Election of the members of the Board of Directors. 3 Press Release 2018

4 H.E. the Chairman and the Managing Director gave a speech in which he explained that the Company achieved positive results for the year ended 31/12/2017, despite a drop in net revenues. Net profit decreased by 40% to reach QR 3,094,523 compared to a net profit of 5,171,89 for the year ended 31/12/ witnessed a decrease in operating revenues by 43% compared to The decrease was due to a decrease in Transportation revenues by 78% and property development revenues by 53%. H.E. added that during 2017, the Company completed its 2016 plan, from drastic improvements to the limousine and taxi sector, the operating income of this sector grew by 58%, and the executive management strives to maintain to keep operating expenses rate commensurate with the sector revenues, as expenses rose by a rate 3% compared to This led to an improvement in the profitability of the sector. Executive Management believes that this sector will achieve positive results during the year 2018 The company also completed the construction work in the taxi complex at the Industrial area, which also includes Alijara Driving School (Al Nasr Modern Driving School) in line with the company's plan and is currently completing the formal procedures of the building. H.E. noted that the company has invested part of its funds in short and long-term investments with a positive return for the company and shareholders. The return of these investments is expected to be realized during 2018 and subsequent years. The Board of Directors endeavor to achieve positive benefit to the company and its shareholders, and they are conservative on the investments. As for dividends distribution, H.E. said that in continuation of the commitment towards the investors who have placed their trust in the company, the Board of Directors recommended to the General Assembly to approve the distribution of a cash dividend of 5%, equivalent to 0.50 Qatari riyals per share. 4 Press Release 2018

5 As for Alijarah s future vision, H.E. added that the company contributes to the achievement of sustainable development, even though it may face some challenges but H.E. expressed his confidence that the company has the necessary resources and workforce to achieve successes in the coming years In conclusion, H.E. expressed his deep appreciation and gratitude to the wise leadership of the state, where the group were not to meet all the accomplishments without endless support from His Highness the Emir, Sheikh Tamim Bin Hamad Al-Thani - may Allah protect him-, for his continued support and guidance. He also offered his sincere thanks and appreciation to Sharia Supervisory Board members for their efforts and wise guidance, and thanked all shareholders and valued customers. The AGM & EGM commenced and the new Board of Directors were elected for the years as follows: Candidate Name SH. Falah Bin Jassim Bin Jabr Al Thani Mr. Salem Bin Butti Al- Nuaimi SH. Rashid Bin Abdul Rahman Bin Mohammed Al Thani SH. Saoud Bin Abdullah Bin Jabr Al Thani SH. Hamad Bin Falah Bin Jassim Al Thani Mr. Mohammed Abdulla Al Mustafawi Representing Al Majal International Trad. & Cont. Company Qatar National Cement Company Doha Bank AL Khaleej Insurance and Rein International Agencies Company AL Hashemi Holding --- End of Press Release Press Release 2018

Report Concerning General Assembly Meeting

Report Concerning General Assembly Meeting Company Name:. Qatar Telecom (Qtel) Q.S.C.. Date:. 18 April 2010... Time: From: 6:30 PM. To: 7:30 PM Location: La Cigale Hotel, DOHA QATAR... Type of Meeting: