This is some teWidamFood Company:The EGM Endorses Items on Its Agenda
Widam Food Company announces theresults of the EGM. Themeeting was held on 08/06/2026 and the following resolutionwere approved:
1- Following the hearing of the auditor’s report, the GeneralAssembly approved the continuation of the Company and the reduction of the Company’s share capital from QAR 180,000,000 to QAR 50,000,000, divided into 50,000,000 shares with a nominal value of QAR 1 pershare, through the cancellation of 130,000,000 shares amountingto QAR 130,000,000, representing 72.2% of the total sharecapital, in order to cover accumulated losses amounting to QAR163,993,840. The General Assembly further authorized the Board ofDirectors to implement the capital reduction in accordance withthe applicable procedures of the Qatar Stock Exchange, Edaa andthe relevant regulatory authorities, and authorized the Board ofDirectors to deal with fractional shares resulting from thereduction, either by aggregating such fractions and paying their value from the Company’s account, selling them and distributing their value to the entitled shareholders, donating them to charitable associations, or by any other method deemed appropriate by the Board of Directors.
2- The General Assembly approved the amendment of certain provisions of the Company’s Articles of Association, in particular Articles
(Preamble, 5, 6, 9, 33, 37, 58 and 65), in accordance with the amendments published on the Company’s website, and the grantingof certain privileges to Hassad Food Company Q.P.S.C. under theCompany’s Articles of Association.
3- The General Assembly approved the issuance of bonds against aloan in favour of Hassad Food Company Q.P.S.C. in the amount of QAR 30 million, for a term of six months, convertible into shares, in accordance with the loan agreement entered into between the parties.
4- Based on the request of a shareholder owning 5% of the sharecapital, and pursuant to Articles 129 and 140 of the Commercial Companies Law, and following the approval of the Companies Affairs Department pursuant to letter no. (ش.ش/2026/734) dated 29/04/2026, the following item was added to the agenda ofthe Extraordinary General Assembly:
a. “Approval of the increase of the Company’s share capital through the conversion of bonds amounting to QAR 30 million into shares in favour of Hassad Food Company Q.P.S.C., such thatthe Company’s total share capital following the increaseshall become QAR 80,000,000, divided into 80,000,000 shareswith a nominal value of QAR 1 per share, and the amendmentof Articles (5) and (6) of the Company’s Articles of Association accordingly, and authorizing the Board of Directors to complete obtaining all necessary approvals from the competent authorities.”
The item was unanimously approved by the shareholders.
b. “Approval of the amendment of Article (7) of the Articles of Association to exempt Hassad Food Company Q.P.S.C and the Government of the State of Qatar from the maximum ownershiplimit, and amendment of Article 7 of the Articles ofAssociation accordingly, and authorizing the Board ofDirectors to complete obtaining all necessary approvalsfrom the competent authorities.”
The shareholders approved the item.
5- The Chairman of the Board of Directors, or any personauthorized by him, wasauthorized to implement the resolutions of theExtraordinary General Assembly,complete obtaining all required approvals fromthe competent authorities, inparticular the Ministry of Commerce and Industryand the Qatar Financial MarketsAuthority, sign the amendments to the Articlesof Association, complete theprocedures for amending the CommercialRegistration, and sign all documents orapplications required to implement theresolutions of the Extraordinary GeneralAssembly.xt inside of a div block.
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1- Following the hearing of the auditor’s report, the GeneralAssembly approved the continuation of the Company and the reduction of the Company’s share capital from QAR 180,000,000 to QAR 50,000,000, divided into 50,000,000 shares with a nominal value of QAR 1 pershare, through the cancellation of 130,000,000 shares amountingto QAR 130,000,000, representing 72.2% of the total sharecapital, in order to cover accumulated losses amounting to QAR163,993,840. The General Assembly further authorized the Board ofDirectors to implement the capital reduction in accordance withthe applicable procedures of the Qatar Stock Exchange, Edaa andthe relevant regulatory authorities, and authorized the Board ofDirectors to deal with fractional shares resulting from thereduction, either by aggregating such fractions and paying their value from the Company’s account, selling them and distributing their value to the entitled shareholders, donating them to charitable associations, or by any other method deemed appropriate by the Board of Directors.
2- The General Assembly approved the amendment of certain provisions of the Company’s Articles of Association, in particular Articles
(Preamble, 5, 6, 9, 33, 37, 58 and 65), in accordance with the amendments published on the Company’s website, and the grantingof certain privileges to Hassad Food Company Q.P.S.C. under theCompany’s Articles of Association.
3- The General Assembly approved the issuance of bonds against aloan in favour of Hassad Food Company Q.P.S.C. in the amount of QAR 30 million, for a term of six months, convertible into shares, in accordance with the loan agreement entered into between the parties.
4- Based on the request of a shareholder owning 5% of the sharecapital, and pursuant to Articles 129 and 140 of the Commercial Companies Law, and following the approval of the Companies Affairs Department pursuant to letter no. (ش.ش/2026/734) dated 29/04/2026, the following item was added to the agenda ofthe Extraordinary General Assembly:
a. “Approval of the increase of the Company’s share capital through the conversion of bonds amounting to QAR 30 million into shares in favour of Hassad Food Company Q.P.S.C., such thatthe Company’s total share capital following the increaseshall become QAR 80,000,000, divided into 80,000,000 shareswith a nominal value of QAR 1 per share, and the amendmentof Articles (5) and (6) of the Company’s Articles of Association accordingly, and authorizing the Board of Directors to complete obtaining all necessary approvals from the competent authorities.”
The item was unanimously approved by the shareholders.
b. “Approval of the amendment of Article (7) of the Articles of Association to exempt Hassad Food Company Q.P.S.C and the Government of the State of Qatar from the maximum ownershiplimit, and amendment of Article 7 of the Articles ofAssociation accordingly, and authorizing the Board ofDirectors to complete obtaining all necessary approvalsfrom the competent authorities.”
The shareholders approved the item.
5- The Chairman of the Board of Directors, or any personauthorized by him, wasauthorized to implement the resolutions of theExtraordinary General Assembly,complete obtaining all required approvals fromthe competent authorities, inparticular the Ministry of Commerce and Industryand the Qatar Financial MarketsAuthority, sign the amendments to the Articlesof Association, complete theprocedures for amending the CommercialRegistration, and sign all documents orapplications required to implement theresolutions of the Extraordinary GeneralAssembly.xt inside of a div block.
