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Al Meera General Assembly to Discuss Rights Issue on August 29

Posted on August 12, 2012 by Web Desk

Doha, August 12 (QNA) – Approval of the proposal to issue rights share to increase the company’s capital will be one of the key topics of discussion during Al Meera Consumer Goods Company’s Extra-ordinary General Assembly which convenes here August 29.
 The company’s Board of Directors (BoD) have proposed increasing the capital by issuing new shares to the shareholders equivalent to 100% of the existing shares at a nominal value of 10 QR per share with additional 85 QR as a premium for each share, Al Meera said.
 Among the other items on the agenda for the EGM are:-  approving the amendment of Article (14) of the company’s Byelaws to read as follows – “The total shares owned by each shareholder shall not be more than (5%) of the whole shares of the company with the exception of the government of the State of Qatar.”
 Approving the amendment of Article (28) of the company’s byelaws to read as follows – “The members of the board of directors shall be elected for a term of three years and a member may be re-elected more than one time but the representatives the government of the State of Qatar shall be excepted from the election.”
 To authorize the BoD with all necessary powers to execute the above and to finalize its procedures before the competent authorities of the State. (QNA)

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