Widam Food Company: will hold its EGM on 13/04/2025
Widam Food Company announces that the General Assembly Meeting EGM will be held on Sunday 13/04/2025, Company’s Headquarters, Tower (B), Mezzanine Floor, Suhaim Bin Hamad Street, Bin Mahmoud, and 04:00 PM
. In case of not completing the legal quorum, the second meeting will be held on Wednesday 16/04/2025, Company’s Headquarters, Tower (B), Mezzanine Floor, Suhaim Bin Hamad Street, Bin Mahmoud, and 04:00 PM
Agenda of the Extraordinary General Assembly:
Item One: Presentation and approval of the Board of Directors' report on extinguishing a portion of the company's accumulated losses (QAR 13,900,010) by using the available legal reserve (QAR 88,972,992).
Item Two: Amending Article 47 of the company's Articles of Association to comply with the Commercial Companies Law and its amendments and the decisions of the Qatar Financial Markets Authority.
Article 47 of the Articles of Association before amendment
"The Ordinary General Assembly shall determine the remuneration of the Board of Directors, 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 capital to shareholders."
Article 47 of the Articles of Association as amended (proposed):
"The Ordinary General Assembly shall determine the remuneration of the Board of Directors, provided that the 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 capital to shareholders. The Company's Articles of Association may stipulate that the Board of Directors shall receive a lump sum if the Company does not achieve profits. In this case, the approval of the General Assembly is required. The Ministry may set a maximum limit for this amount."
Item Three: 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 resolutions of the Extraordinary General Assembly, the directives of the Ministry of Commerce and Industry, or the directives of the Qatar Financial Markets Authority, consistent with Law No. (8) of 2021 amending certain articles of Commercial Companies Law No. (11) of 2015, and to sign the amended Articles of Association before official authorities.
Download:
Board of Directors Report - Extraordinary General Assembly April 13, 2025.pdf
