Medicare Group announces the results of the Annual Group’s Ordinary General meeting on Sunday, February 23, 2020, the AGM has looked the agenda. The results of the meeting as follows:-

 

1. The AGM has listened to the Chairman Opening speech and the Board of Director’s report on the Company’s business activities and company’s performance during the Financial Year ended on 31/12/2019; and the future business plan and endorsed it.

 

2. The AGM heard the External Auditor’s report on the Company’s consolidated financial statement for the financial year ended on 31/12/2019, report on the company’s compliance with Corporate Governance Code for Companies and Legal Entities Listed on the main market and report on the Internal Controls Over Financing Report (ICOFR), and endorsed it.

 

3. The AGM discussed and endorsed the Company’s consolidated financial statement for the financial year ended on 31/12/2019.

 

4. The AGM Endorsed the Board of Directors recommendation for distributing cash dividends of 28% of nominal share value (i.e QR 0.28 per share).

 

5. The AGM discharged the Board of Directors’ responsibilities for the financial year ended on 31/12/2019; and endorsed their remuneration with a total amount of QR 2,860,621 (Two Million Eight Hundred Sixty Thousand and Six Hundred Twenty One Qatari Riyals).

 

6. Reviewed Company's Governance Report for the Year 2019; and endorsed the same.

 

7.  The AGM appointed M/s. Ernst & Young as External Auditors for the financial year (2020) and determined their fees with a total amount of QR 350,000 (Three Hundred and Fifty Thousand Qatari Riyals)

 

8. The AGM approved the recommendation of the Board of Directors to allocate an amount of QR 300,000 (Three Hundred Thousand Qatari Riyals) to be added to the remaining amount of the fund allocated to treat the cases that are not able to afford the treatment fees, which was approved by the Ordinary General Meeting last year in the amount of one million Qatari Riyals.

 

9. The AGM considered some of the company’s internal policies and approved it as required by the Corporate Governance Code for the companies and legal entities listed on the main market issued by the Qatar Financial Markets Authority (Dividends Policy, Related Party Transaction Policy and Criteria and Procedures for candidacy for membership in the company's board of directors).