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Baladna: The EGM Endorses items on it's agenda

Baladna BLDN 0.78% 1.16 0.01

Baladna announces the results of the EGM. The meeting was held on 04/12/2022 and the following resolution were approved

1-       Approved by a majority vote, the acquisition of 75% of E-Life Detergent Factory WLL, by Baladna Food Industries WLL a fully owned subsidiary of Baladna Q.P.S.C., for a value of QAR 13,840,000, after obtaining all the approvals that might be required.

2-      Authorize the Chairman of the Board of Directors, or whomever he delegate, to adopt any decision or take any action that may be necessary to implement the acquisition decision, including but not limited to, apply for the required approvals from the Ministry of Commerce and Industry and Qatar Financial Markets Authority, amend and sign the memorandum of association of the acquired company, review the Ministry of Justice, the Ministry of Commerce and Industry and any other competent authority in the State of Qatar and submit and sign any necessary documents related to the acquisition

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