Mannai Corporation: The AGM and EGM Endorses Items on It's Agenda

Mannai Corporation announces the results of the AGM and EGM. The meeting was held on 02/04/2024 and the following resolution were approved First: OGA Resolutions: 1. Approving the Board of Directors Report on the Corporation activities, future plan, financial position and final accounts for the year ended 31 December 2023. 2. Approving External Auditor’s Report on the Balance Sheet, Final Accounts and Financial Statements of the Corporation for the year ended 31 December 2023, Independent Limited Assurance Report and the ICOFR Report as recited before the Assembly. 3. Approving the Corporation’s annual balance sheet and profit and loss account for the year ended 31 December 2023. 4. Approving the Board of Directors’ proposal for a cash dividend payment for year ended 31 December 2023 of QR0.25 per share, being 25% of the nominal share value. 5. Approving the Corporate Governance Report of the Corporation for the year ended 31st December 2023. 6. Absolving the Chairman and members of the Board of Directors for the year ended 31 December 2023 and approving their remuneration of QR7,500,000 (Qatari Riyal seven million five hundred thousand). 7. Appointing KPMG as the Corporation’s External Auditors for the year 2024 and fixing their remuneration for an amount of QR1,014,500 (Qatari Riyal one million fourteen thousand and five hundred). 8. Authorizing Mr. Khalid Ahmed Al Mannai with all the powers to take the procedures necessary for execution of Assembly resolutions before all the official authorities and entities in Qatar. Second: Agenda of the Extraordinary General Assembly 1. Approving the recommendation of the Board of Directors for increasing the maximum shareholding of non-Qataris in the share capital of the Corporation up to 100% after obtaining necessary approvals from the proper authorities. 2. Approving the amendment of Article (15) of the Amended Articles of Association of the Corporation which reads: “Non-Qatari nationals may buy company shares, whereby their shareholding shall not exceed 49% of the company shares” To read after amendment as follows: “Non-Qataris may hold up to 100% of the share capital of the company” 3. Authorizing Mr. Khalid Ahmed Al Mannai with all the powers necessary for carrying out the necessary amendments to the Amended Articles of Association of the Corporation (including the authority to sign the final version of the amended Articles of Association) in coordination with the Ministry of Commerce and Industry and to complete the required formalities and procedures before all official authorities in the State of Qatar including but not limited to the Ministry of Justice. .