In accordance to Ooredoo’s (Q.P.S.C.) Extra-Ordinary Assembly Meeting which was held yesterday, 19 March 2019, the assembly discussed and approved the following agenda item:
“Amendment of the Company’s Articles of Association to comply with the Commercial Companies Law (11) for 2015, and the regulations mentioned in the QFMA Governance Code for Companies and Legal Entities Listed on the Main Market and the Qatar Financial Markets Authority Board decision in its fourth meeting in 2018 which was held on 16 December 2018 and referred to in the Authority letter No. (م.ر.ت-3-2019) dated 6 January 2019 regarding splitting the nominal value of listed companies’ shares, and authorizing the Chairman to conduct that.”
Accordingly, the company will commence the procedures to amend the articles of association in compliance with the above clause. However and regarding the issue of splitting the nominal value of the company’s shares to be QAR 1 instead of QAR 10, no effective date was determined yet, and the company will announce accordingly the date of splitting the nominal value of the shares as soon as it is determined by Qatar Exchange and Qatar Financial Markets Authority.
Ooredoo is an international communications company operating across the Middle East, North Africa and Southeast Asia. Serving consumers and businesses in 10 countries, Ooredoo delivers the leading data experience through a broad range of content and services via its advanced, data-centric mobile and fixed networks. Ooredoo generated revenues of USD 8.2 billion as of 31 December 2018. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.