Widam Food: The EGM Endorses Items on It's Agenda

Widam Food Company announces the results of the EGM The meeting was held on 23/06/2025 and the following resolution were approved: - Approved amending Article No. 47 of the Company’s Articles of Association in accordance with the Commercial Companies Law and its amendments and the decisions of the Qatar Financial Markets Authority : Article 47 post amendment The Ordinary General Assembly determines the remuneration of the Board members, provided that the percentage of such remuneration does not exceed (5%) of the net profit after deducting reserves and legal deductions and distributing a profit of no less than (5%) of the company's paid-in capital to shareholders. Members of the Board of Directors may receive a lump sum if the company does not make profits. In this case, the approval of the General Assembly is required. The Ministry shall set an upper limit for this amount. - Approved amending Item (3) of Article 34 of the Company’s Articles of Association in accordance with the decision of the Board of Directors held on 04/16/2025 as follows: Article 34 (3) post Amendment S/he must be a shareholder, and to own at the time of his election or within thirty days from the date of his election (10,000) shares of the company’s shares. They must be deposited within sixty days from the date of the start of membership with the depository or in one of the approved banks, with no negotiability, mortgage or seizure until the membership term expires, and the balance sheet of the last fiscal year in which the member carried out his business is approved. The shares referred to in the previous paragraph shall be allocated to guarantee the rights of the company, shareholders, creditors and third parties for the responsibility that falls on the Board members, and if the member does not provide the guarantee in the aforementioned manner, his membership shall be void. One-third of the Board members must be independent, experienced members, and they are exempted from the condition of owning shares in accordance with the provisions of Article (97) of the Commercial Companies Law. The majority of the members of the Board must be non-executives. If a Board member loses any of these conditions, he loses his membership status from the date of losing that condition. - Approval of the company’s governance policies (policies, standards and procedures specified for membership in the Board of Directors - policy for granting rewards and incentives - policy for dealing with related parties - procedures for training and induction of new/current Board members) - Approved using the full available reserve of QAR 88,972,992, extinguishing a portion of the company's accumulated losses, the company's future plan, and the company's continuation for the best interest of the company and shareholders. - Approved authorizing the Chairman of the Board of Directors (in his capacity) or his authorized representative to make the required amendments to the Articles of Association in accordance with the decisions of the General Assembly (extraordinary) and signing the Articles of Association after its amendment before the official authorities