Extraordinary General Assembly meeting results

Estithmar Holding Q.P.S.C. Extraordinary General Assembly meeting results

Reference to the above subject, the Extraordinary General Assembly of Estithmar Holding Q.P.S.C endorsed during its meeting held on 24th July 2023 the following resolutions:

1. The Extraordinary General Assembly approved canceling the first resolution of Clause 1 related to the private placement and issuance of rights taken at the Extraordinary General Assembly meeting held on November 27, 2022, and issuing a new decision as follows:    Approving the issuance and offer up to (50%) of the company’s capital, where the issuance will take place as follows, 10% by issuing subscription rights and 40% by private placement and/or public subscription, provided that each of them is issued in one tranche or Several tranches over the course of one year starting from the date of this assembly. The EGM delegates the company’s board of directors to determine the percentage of the issuance that will take place through a private placement and/or the percentage of public subscription that will take place through public subscription, according to what the board deems appropriate for the company, within the limits of 40% of the company’s capital, in accordance with the applicable rules and regulations of QFMA, provided that the nominal value of one share in any of the three transactions is one (1) Qatari Riyal, in addition to an issuance premium determined by the Board based on any of the three transactions.
2. The Extraordinary General Assembly approved  delegating the Chairman of the Board of Directors of the company and/or the Vice-Chairman of the Board of Directors to approve on behalf of Estithmar Holding and its subsidiaries (registered in or outside the State of Qatar) or owned by it (“all referred to as group companies”) on project financing contracts funding for projects related to activities of these companies (projects related financing facilities) whatever their duration, including those whose terms exceed three years and without a financial ceiling, and under the conditions that the Chairman of the Board of Directors and/or the Vice-Chairman of the Board of Directors deem appropriate for the interest of the group companies and authorize the CEO or CFO of Estithmar Holdings to sign, jointly with any member of the Executive Committee on behalf of the group companies, project financing contracts (Projects related financing facilities) and to sign documents of guarantees, solidarity guarantees, right transfer contracts, and mortgage contracts of all kinds and related cheques
3. Except for project financing contracts subject to clause No. 2 The General Assembly approved re-delegating the Board of Directors the right to approve on behalf of Estithmar Holding and its subsidiaries (registered in or outside the State of Qatar) or owned by it, to conclude loan or banking facilities contracts for example but not limited to (Corporate Loans, Long term Loans, short term loans, revolving loans and facilities, trade finance facilities and letters of guarantees) from banks inside or outside the State of Qatar, regardless of their duration, including those whose terms exceed three years and without a financial ceiling regardless of the borrowing currency and under the conditions that the company’s board of directors deems appropriate for the interest of the group and its subsidiaries and companies owned by it.And delegating of the company’s Chairman and Deputy Chairman of the board of directors solely, or the CEO, or the CFO of Estithmar Holding, in conjunction with any member of the Executive Committee to sign on behalf of the group’s companies on loan contracts and banking facilities for example but not limited to (Corporate Loans, Long term Loans, short term loans, revolving loans and facilities, trade finance facilities and letters of guarantees) and signing Guarantee letters, solidarity guarantees, right -time contracts and mortgage contracts of all kinds and related cheques