Last checked at 20 Mar 2019 11:47
20 March 2019
Splitting The Nominal Value of Ooredoo's Share
In accordance to Ooredoo's (Q.P.S.C.) Extra-Ordinary Assembly Meeting which was held yesterday, 19 March 2019, the assembly discussed and approved the following agenda item:
"Amendment of the Company's Articles of Association to comply with the Commercial Companies Law (11) for 2015, and the regulations mentioned in the QFMA Governance Code for Companies and Legal Entities Listed on the Main Market and the Qatar Financial Markets Authority Board decision in its fourth meeting in 2018 which was held on 16 December 2018 and referred to in the Authority letter No. (م.ر.ت-3-2019) dated 6 January 2019 regarding splitting the nominal value of listed companies' shares, and authorizing the Chairman to conduct that."
Accordingly, the company will commence the procedures to amend the articles of association in compliance with the above clause. However and regarding the issue of splitting the nominal value of the company's shares to be QAR 1 instead of QAR 10, no effective date was determined yet, and the company will announce accordingly the date of splitting the nominal value of the shares as soon as it is determined by Qatar Exchange and Qatar Financial Markets Authority.