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THE EGM OF MEDICARE GROUP APPROVES THE BOD’S RECOMMENDATION TO AMEND THE COMPANY’S ARTICLES OF ASSOCIATION (2018-01-11)

Medicare MCGS 0.02% 4.28 0.00
Medicare Group announces the results of the postponed meeting of Medicare Group’s Extraordinary General Assembly on Wednesday January 10, 2018, please be informed that the postponed meeting has convened this evening with a legal quorum required for the validity of the meeting. The quorum of the shares represented at the meeting was 59.88% of the company's total capital between shares represented originally or by proxy. Hence, the EGM has looked theattached agenda and after the discussions the EGM has approved the first itemof the agenda related to the BOD’s recommendation to amend the company’sArticles of Association in accordance with the Governance Code of the Companiesand Legal Entities Listed in the Main Market which issued by Qatar FinancialMarkets Authority. Regarding the second item of theagenda related to the BOD’s recommendation to amend the paragraph No 3 ofArticle (28) regarding the minimum required shares ownership as a qualificationfor the BOD elections for non-independent candidates to be 200,000 (Two hundredthousand shares) instead of 100,000 (one hundred thousand shares), and afterdiscussing this BOD’s recommendation, the shareholders have suggested to reduce the number of shares ownershipto 0,25% of the Company’s shares which is equivalent to 70,360shares in order to facilitate morechances for the shareholders to be elected. This suggestion has been approvedby the EGM unanimously. Also the EGM has endorsed the thirditem of the agenda related to delegation of the Chairman of the Board ofDirectors to sign and attest the amended Articles of association of the companyand to take all necessary actions to implement EGM decisions and to publish theamendments in the Official Gazette.

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