Islamic Holding Group announced the resolutions of Extraordinary General Assembly Meetings held
OREANDA-NEWS. Islamic Holding Group announced the resolutions of Extraordinary General Assembly Meetings held on Monday 12.10.2015. The following resolutions were passed:
- Extraordinary General Assembly Approved the increase of company''''s capital by 50% from QR40,000,000 to be QR60,000,000 through the issuance of2,000,000new shares which will be offered for subscription to the eligible shareholders that have the right subscribe at a rate of one new share for each two existing shares at nominal value of QR10 plus a share premium of QR 40per share.
- Extraordinary General Assembly authorize the shareholders own the share on date 1/12/2015 eligible to participate in the right issue. In addition, authorize the Board of Directors to assigning a date of the right issue in accordance with regulations of the Qatar Financial Markets Authority or authorize the Board of Directors to determine the initial date, dates of payment, and to assign an Issuance Manager and assign E&Y as auditor in charge to follow up the right issue process.
- Extraordinary General Assembly Approved to Authorize the Board of Directors to take the necessary actions regarding increase the share capital and the subscription in accordance with the regulations of the Qatar Financial Markets Authority, and distribution ofshares,sale ofsubscriptionrights,andhandling offractionalshares resulting fromthe IPO.
- Extraordinary General Assembly Approved to Consider a recommendation to amend Article (6) of the Articles of Association after finalizing the increase in capital which will be read after the amendment as follows: The issued capital is amounted of QR (60,000,000) (Sixty millionQatariRiyals) divided into 6,000,000 shares (six million shares) with a nominal value of QR10per share, instead of the previous text: The issued capital is amounted of QR (40,000,000) (Forty millionQataririyals) divided into 4,000,000 shares (four million shares) with a nominal value of QR10per share.
- Extraordinary General Assembly Approved to Authorize the Chairman of the Board with all necessary prerogatives to implement the above-mentioned resolutions and complete all procedures required by all authorized bodies in the State and signing of the company’s Articles of Association to be publish in the Official Gazette.