Woqod’s nod to scrap minimum shares requirement

 26 May 2016 - 1:51

DOHA: The shareholders of Qatar Fuel (Woqod) yesterday approved all the agenda on the Extra Ordinary General Assembly meeting, including changes in the Articles of Association related to abolish the minimum shares requirement (previously prescribed at 100 shares for each single shareholder). The AGM, presided over by Sheikh Saoud bin Abdulrahaman Al Thani, Chairman of the Board of Directors of Woqod, was held at WOQOD Tower (West Bay). 

The meeting had been postponed due to the lack of Quorum in the previous two meetings. 
Among the other agenda of the meeting, which shareholders approved were ‘Amendment of Article 3’ by adding activities and procedures to the existing practices undertaken by the company in furtherance of its objects, which include enabling the utilisation of Sidra Brand Name for establishment and operation of Sidra C- Stores; related to the vehicle related services and activities to be exercised by the service stations; allowing commercial advertisement inside the service station premises; and allowing the Board of Directors to pass decisions by “Circulation “procedure in cases of emergency or necessity.The Peninsula

DOHA: The shareholders of Qatar Fuel (Woqod) yesterday approved all the agenda on the Extra Ordinary General Assembly meeting, including changes in the Articles of Association related to abolish the minimum shares requirement (previously prescribed at 100 shares for each single shareholder). The AGM, presided over by Sheikh Saoud bin Abdulrahaman Al Thani, Chairman of the Board of Directors of Woqod, was held at WOQOD Tower (West Bay). 

The meeting had been postponed due to the lack of Quorum in the previous two meetings. 
Among the other agenda of the meeting, which shareholders approved were ‘Amendment of Article 3’ by adding activities and procedures to the existing practices undertaken by the company in furtherance of its objects, which include enabling the utilisation of Sidra Brand Name for establishment and operation of Sidra C- Stores; related to the vehicle related services and activities to be exercised by the service stations; allowing commercial advertisement inside the service station premises; and allowing the Board of Directors to pass decisions by “Circulation “procedure in cases of emergency or necessity.The Peninsula