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Qatar First Bank (QFC): Holds it's EGM on 21/09/2021 for 2021

Lesha Bank QFBQ 0.81% 1.25 0.01

Qatar First Bank (QFC) announces that the General Assembly Meeting EGM will be held on 21/09/2021, virtually via Zoom and 04:30 PM. In case of not completing the legal quorum, the second meeting will be held on 22/09/2021, virtually via Zoom and 04:30 PM 

Agenda 

To approve, by virtue of adopting special resolutions, and subject to obtaining all relevant regulatory approvals from the Qatar Financial Markets Authority (the “QFMA”), the Qatar Stock Exchange (“QSE”), the Qatar Financial Center Regulatory Authority (the “QFCRA”), the Qatar Financial Centre Authority (the “QFCA”) and any other related competent authority, as well as in accordance with the Bank’s articles of association, the rules of the QFMA and the QSE, the Qatar Financial Centre Companies Regulations 2005, the QFCA Companies Rules and, in particular, Article 195 of the Commercial Companies Law No 11 of 2015 (as may be applicable to the Bank as a company established in QFC), Article 5.2 of the QFMA Offering and Listing Rulebook, articles 6 to 10 of the QFMA’s Selling Rights Issue Rules, the following:

1.      An increase in the Bank’s nominal share capital from QAR 700,000,000 (seven hundred million Qatari Riyals) up to QAR 1,120,000,000 (one billion one hundred and twenty million Qatari Riyals) (representing an increase of 60% from the current paid-up nominal share capital of the Bank) within a period of one (1) year from the date of the decision of the EGM hereby convened by way of offering 420,000,000 (four hundred and twenty million) new ordinary shares for subscription by means of rights issue (the “Rights Issue”) at par value of QAR 1 (one Qatari Riyal) with an additional premium per share, to be determined by the Chairman of the Board of Directors (or such person authorised by him for such purpose), to the eligible shareholders of the Bank, who are registered in the shareholders’ register with the Qatar Central Securities Depository (the “QCSD”) on such day as the Chairman of the Board of Directors (or such person authorised by him for such purpose) may elect, and to the holders of subscription rights;

 

2.     The authorisation of the Chairman of the Board of Directors and/or the Bank’s Chief Executive Officer (and whomever they may authorise) individually to execute and do all such things required to execute the above mentioned increase or any additional increase in the paid up share capital as may be approved at the EGM hereby convened and to determine the price per share (including the premium), time, terms and conditions (including preparing and adopting any prospectus or information memorandum) of the above mentioned increase(s) in authorised share capital, deal with unsubscribed shares and determine the price per share (including the premium) at which those shares may be sold in the market, deal with fractional shares that would arise from subscription and any other issue that may arise during the share subscription process or after its completion;

 

3.     Waiving priority rights of eligible shareholders in favour of third parties by virtue of an EGM resolution issued by shareholders representing 75% of the share capital of the Bank (at all time); 

 

4.     The disapplication of priority rights of eligible shareholders who do not subscribe during the specified subscription period, taking into consideration the above mentioned regulations 

 

5.      Having considered the interests of the Bank’s shareholders, the public offering through QSE of the unsubscribed new shares by eligible shareholders and the holders of subscription rights  for public subscription within a month of the listing of such new shares and, if the Bank is unable to sell all such unsubscribed new shares within such period of time, the Bank’s Board, may cover (in the form to be determined by the Board) the remaining unsubscribed shares considering the Bank’s interest or otherwise take such action as may be necessary to reduce it 



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