VODAFONE QATAR’S ORDINARY AND EXTRAORDINARY GENERAL ASSEMBLY MEETINGS ARE SUCCESSFULLY COMPLETED
Quorum obtained and all agenda items approved
Doha, 12 June 2011: Vodafone Qatar Q.S.C. (“Vodafone Qatar” or “The Company”) held its Ordinary General Assembly Meeting and Extraordinary General Assembly Meeting on Sunday 12 June at La Cigale Hotel, Doha, Qatar.
The Ministry of Business and Trade were present to oversee proceedings. QNB conducted the official register for both General Assembly meetings and Vodafone Qatar’s auditors, Deloitte and Touche, were also present to oversee the registration process.
Vodafone Qatar reached the quorum of shareholders necessary to hold both the Ordinary and Extraordinary General Assembly meetings with 72.8% of The Company’s total share capital represented at both meetings. As per article 53 of The Company’s Articles of Association, the Extraordinary General Assembly is only valid if it is attended by shareholders representing at least two-thirds of the Company’s share capital. As outlined in article 51, the Ordinary General Assembly is only valid if shareholders representing at least half the Company’s share capital attend.
Mr John Tombleson, Vodafone Qatar’s Acting Chief Executive O fficer was authorised by Vodafone Qatar’s Chairman, H.E. Sheikh Abdulrahman Bin Saud Al-Thani to act as Chairman on his behalf.
The outcome of the Ordinary General Assembly was that all agenda items were approved. The agenda items covered were: 1. John Tombleson, Vodafone Qatar’s Acting Chief Executive Officer and Board Member, provided an extensive review of the Board of Director’s report of the Company’s activities and its financial status for the financial year ended 31 March 2011. This was approved unanimously. Mr Tombleson also spent time discussing the outlook and plans for The Company for the next financial year. 2. Vodafone Qatar’s auditors, Mr Rami Qudah, Audit Partner at Deloitte and Touche read the Auditor’s Report on the Company’s Accounts for the financial year ended 31 March 2011; this was approved unanimously. 3. Mr Tombleson discussed the Company’s Balance Sheet and the Profit and Loss Accounts for the financial year ended 31 March 2011 and clarified the dividend policy. This was approved unanimously. 4. Mr Tombleson proposed the discharge of the members of the Board from liabilities and discussing their remuneration for the year ended 31 March 2011. This was approved unanimously. 5. Mr Tombleson discussed the appointment of an external auditor for the financial year ending 31 March 2011 and approval of the auditor’s fee. It was approved unanimously that Deloitte and Touche would remain as the Company’s auditors for the next financial year.
The outcome of the Extraordinary General Assembly was that the single agenda item relating to a change to article 34.1 of Vodafone Qatar’s Articles of Association and Memorandum of Association was approved unanimously. Mr. Matthew Harrison-Harvey, Company Secretary, Director-Regulatory & External Affairs and Board Member, explained that Vodafone Qatar wished to change the number of Board meetings held each year from six to four meetings to be aligned with the Qatar Financial Markets Authority (QFMA) quarterly reporting requirements.