16.03.2015, 09:28
The AGM of Qatar general insurance endorses all items on its agenda
OREANDA-NEWS. Qatar General Insurance and Reinsurance Companyannounces the results of the Ordinary and Extraordinary General AssemblyMeetings held on Sunday 15/03/2015 andhas approved the following resolutions:
• The Shareholders reviewed and approved the Group’s Annual Report, including theBoard of Directors report, independent auditors report,the consolidatedfinancial statements, the balance sheet and profit and loss accounts as well asthe future plans of the Group.
• The Shareholders followed the Board of Directors proposal to increase thecompany’s capital by 15% from QAR 691,752,600 to QAR 795,515,490 by issuingbonus shares to existing shareholders equivalent to three new shares for everytwenty shares held. The distribution of cash dividends of 20% equivalent to QAR2.0 for each share held was also approved.
• The Shareholders followed the Board of Directors proposal to increase permittedshare ownership of foreign Non-Qatari investors to an amount not exceeding 49%of the shares of the company.
• The Chairman and members of the Board of Directors were granted discharge ofresponsibility for the financial year 2014 and their remuneration as proposedby the Compensation and Remuneration committee was approved.
• Ernst & Young were appointed as Auditors of the Group for the year 2015 The Extra-Ordinary General Meeting agree to increase percentage permitted for foreigninvestors in the capital of Qatar General Insurance & Reinsurance Company.
• The Shareholders reviewed and approved the Group’s Annual Report, including theBoard of Directors report, independent auditors report,the consolidatedfinancial statements, the balance sheet and profit and loss accounts as well asthe future plans of the Group.
• The Shareholders followed the Board of Directors proposal to increase thecompany’s capital by 15% from QAR 691,752,600 to QAR 795,515,490 by issuingbonus shares to existing shareholders equivalent to three new shares for everytwenty shares held. The distribution of cash dividends of 20% equivalent to QAR2.0 for each share held was also approved.
• The Shareholders followed the Board of Directors proposal to increase permittedshare ownership of foreign Non-Qatari investors to an amount not exceeding 49%of the shares of the company.
• The Chairman and members of the Board of Directors were granted discharge ofresponsibility for the financial year 2014 and their remuneration as proposedby the Compensation and Remuneration committee was approved.
• Ernst & Young were appointed as Auditors of the Group for the year 2015 The Extra-Ordinary General Meeting agree to increase percentage permitted for foreigninvestors in the capital of Qatar General Insurance & Reinsurance Company.
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