Estithmar Holding’s Ordinary and Extraordinary General Assemblies have approved the company’s financial results for the year ending December 31, 2024. They also endorsed the Board of Directors’ proposal to distribute dividends, granting shareholders one free share for every ten shares held.
Key Decisions from the Ordinary General Assembly:
- Approval of the Board of Directors’ report on the company’s activities and financial performance for 2024.
- Approval of the auditors’ report on the financial statements for the same period.
- Approval of the company’s Balance Sheet and profit and loss statement for 2024.
- Endorsement of a 10% dividend distribution through free shares, allocating fractional shares to Estithmar Holding.
- Approval of the company’s Governance Report for 2024.
- Discharge of Board of Directors’ members from any financial liability for the year.
- Appointment of Russell Bedford & Partners as auditors for 2024, with fees approved as per the Board’s recommendations.
Key Decisions from the Extraordinary General Assembly:
- Approval of a 10% capital increase to issue free shares, raising the total capital to 3,744,441,250 Qatari Riyals.
- Amendments to Articles 5 and 6 of the Articles of Association to reflect the capital increase.
- Approval to move the company’s headquarters from Doha to Lusail.
- Modification of Article 18 to permit non-Qataris to own up to 100% of company shares, in line with Law No. 1 of 2019.
- Extension of the shareholding reduction period for related parties, ensuring their ownership remains below 75% of issued capital within 24 months.
- Authorization for key board members to secure regulatory approvals and make necessary amendments to the Articles of Association.
These decisions reinforce Estithmar Holding’s commitment to growth, transparency, and expanding shareholder benefits, aligning with Qatar’s economic vision.
