VODAFONE QATAR HOLDS ITS ANNUAL GENERAL ASSEMBLY AND EXTRAORDINARY GENERAL ASSEMBLY MEETING

Distribution of a cash dividend of 6% of the nominal share value approved

Doha, 28 February 2022:  Vodafone Qatar P.Q.S.C. (“Vodafone Qatar” or the “Company”) held its Ordinary and Extraordinary General Assembly Meetings virtually on Monday 28 February 2022, chaired by Vodafone Qatar’s Chairman H.E. Mr. Abdulla Bin Nasser Al Misnad.
 
Vodafone Qatar exceeded the quorum of shareholders necessary for the Ordinary and Extraordinary General Assembly meetings to take place.
 
The outcome of the Ordinary General Assembly Meeting was the approval of all resolutions on the agenda including the Board of Directors proposal to distribute a cash dividend of 6% of the nominal share value, i.e. QR 0.06 per share.
 
Under the supervision of Ministry of Commerce and Industry representatives, the election of three Independent members to the Board of Directors took place, for a term of three years starting in 2022 and ending in 2024, with the following nominees elected by majority votes:
  • H.E. Mr. Abdulla Nasser Al Misnad
  • H.E. Mr. Akbar Al Baker
  • H.E Sheikh Hamad bin Faisal Thani Jassim Al Thani
The remaining four Board members were appointed previously by Vodafone and Qatar Foundation LLC pursuant to Article 29.1 of Vodafone Qatar’s Articles of Association as follows:
  • Mr. Rashid Fahad Al-Naimi
  • H.E. Sheikh Saoud Abdul Rahman Hassan Al-Thani
  • Mr. Nasser Jaralla Al Marri
  • Mr. Nasser Hassan Al-Naimi
The meeting also covered the Board of Director’s report detailing the Company’s activities and its financial position for the financial year ended 31 December 2021.
 
The Shareholders reviewed and endorsed the external auditor’s report on the Company’s Accounts for the financial year ended 31 December 2021 and the external auditor’s reports on the Company’s Corporate Governance and Internal Control over Financial Reporting. It was also approved unanimously that KPMG be re-appointed the Company’s auditors for the financial year 2022, in addition to approving their fees.
 
The shareholders approved the financial statements of the Company for the financial year ended 31 December 2021 and the Corporate Governance Report of the Company for 2021. Moreover, there was unanimous agreement to discharge the members of the Board from all liabilities and approve their remuneration.
 
Addressing the shareholders, His Excellency Mr. Abdulla Bin Nasser Al Misnad said, “Vodafone Qatar started the year with many investments to enhance and expand its various networks. These developments allowed us to better support all of our customers across Qatar, benefitting both consumers and businesses alike.  With the notable progress we made in the services and products offered to both our consumer and corporate clients, we now find ourselves in the right position to explore new horizons for supporting the various social segments and corporate sector of the State of Qatar, by proactively accelerating and promoting the process of Digital Transformation.”
 
His Excellency added, “In 2021, the Company reported an annual Net Profit of QR 327 million, a 76.9% increase compared to the previous year mainly driven by EBITDA growth, despite the impact of COVID-19. Total revenue for the year increased by 14.8% year-on-year to reach QR 2.5 billion due to continued growth in the Company’s postpaid, fixed broadband services, managed services and equipment and related services.”
 
The outcome of the Extraordinary General Assembly Meeting, subject to obtaining all relevant regulatory approvals, was the approval of the proposed changes to the Company’s Articles of Association in accordance with the Law No. (8) of 2021 amending certain provisions of the Qatar Commercial Companies Law No. (11) of 2015.
 
Finally, the Shareholders authorised the Chairman of the Board and/or the Vice Chairman to sign the amended Articles of Association and to complete the required formalities in this regard, provided that the Chairman of the Board and/or the Vice Chairman shall be entitled to delegate this right to any member of the Board and/ or the CEO of the Company and to allow authorised persons to assign this task to the Company’s employees as they deem appropriate.
 
-ENDS-
 
About Vodafone Qatar P.Q.S.C
 
Vodafone Qatar P.Q.S.C. ("Vodafone Qatar") provides a comprehensive range of services including voice, messaging, data, fixed communications, IoT and ICT managed services in the State of Qatar, for both consumers and businesses alike. The Company commenced commercial operations in 2009 and has 1.9 million mobile customers as of 31 December 2021. Its state-of-the-art network infrastructure is expanding to cover key locations in the country with fibre connectivity and 5G, along with an extensive digital ecosystem, which will contribute to Qatar's continued growth and prosperity. Vodafone Qatar’s vision is deeply rooted in its mission to connect today’s ideas with the technologies of tomorrow by pioneering digital innovation and becoming people’s first choice in telecom and digital services. Please visit www.vodafone.qa for more details.
 
For press enquiries, please contact:
ali.alabdulla@vodafone.com
 
For Investor Relations enquiries, please contact:
Email: InvestorRelationsQatar@vodafone.com

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