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https://zoom.us/j/98020347205?pwd=WnJnWlNnZjViRmFzalM5Y2x3TkE1UT09

Meeting ID: 980 2034 7205
Passcode: 291961

a conference call discussion will be held with the investors of Qatar Industrial Manufacturing Company regarding its financial results for the year 2020 on Thursday, 18th February 2021 at 9:00 AM , Doha Time.

Details are attached herewith.

This is for your information and necessary action.

Meeting link: https://zoom.us/j/97674189935?pwd=Q2VBdTlJWTRnckZzcUNoSC9jMjFmZz09

Meeting Id: 976 7418 9935

Passcode: 911570

Contact:                      For further details about the call, please contact Surya Narayanan +974-66737632

Please join 10 minutes prior to the scheduled start, so that we can sort out connectivity and audio

Due to the current situation prevailing in the country and in order for the protection of public health, it has been decided that the meeting place of the Annual General Assembly of Qatar Industrial Manufacturing Company (QIMC) will be moved to the company’s headquarters in the West Bay, opposite the City Center Mall, Dana Tower, 15th Floor, on Sunday, 15th March 2020 at 4.30 pm.

This is for your information necessary action.

تقرر أن يتم عقد المؤتمر الهاتفي للبيانات المالية للفترة المنتهية في 31/12/2019  للشركة القطرية للصناعات التحويلية  الساعة 9 صباح يوم الخميس الموافق 13/2/ 2020.

اضغط للتفاصيل

The Board of Directors of Qatar Industrial Manufacturing Company (QIMC) held its first meeting of 2019 on Sunday 10/02/2019. H.E. Sheikh Abdul Rahman bin Mohammed Bin Jabor Al Thani – Chairman of the Board presided over this meeting and adopted the final consolidated financial statements for the year ending 31/12/2018. After the meeting, H.E. the Chairman of the Board was pleased to announce that the company has achieved a net profit of QR 200 million, compared to QR 206.1 million for the same period in 2017. The total equity of the company’s shareholders is QR 1,628,702,721 compared to QR 1,575,130,548 for 2017. The earnings per share (EPS) has reached 4.21 riyals compared with 4.34  riyals for the same period of 2017.

H.E. the Chairman of the Board also explained that the Board of Directors has agreed to convene the Ordinary and Extraordinary General Assemblies to be held on Sunday 10th March 2019 at 4:00 pm in Radisson Blu Hotel, Giwana Ballroom to submit recommendations for the distribution of (25%) Cash Dividend and the adoption of the following agenda. In the absence of Quorum, the meeting will be conducted on 17th March 2019 at 4.00 pm at the same venue.

Ordinary General Assembly:

  1. Confirmation of the Quorum
  2. Hearing of the Board of Directors’ report on the Company’s activities, its financial position for the financial year ending December 31st, 2018 and its future development plans.
  3. Hearing of the Auditors’ report on the Company’s final accounting statements for the financial year ending December 31st, 2018.
  4. Discussion and approval of the Company’s consolidated Balance Sheet and Profit & Loss Account for the financial year ending December 31st, 2018.
  5. Adoption of the Board of Directors’ resolution to distribute (25% of nominal shares i.e. QR 2.5 per share) as dividend for the financial year ending December 31st, 2018.
  6. Absolve Board Members from liability for the financial year ending December 31st, 2018 and determination of their remunerations.
  7. External auditors’ appointment for the financial year 2018 and determination of their remuneration.
  8. Discussion and approval of Corporate Governance report of the company for the year 2018.
  9. Election of members of the Board of Directors for the next three years.

Extraordinary General Assembly Agenda:

  1. To consider and approve the split of the par value of the ordinary share to be QR 1 instead of QR 10, as per the instructions of Qatar Financial Markets Authority, and amendment of the following Articles in the Company’s Articles of Association as shown below:
Existing Article (Article No. 6)Proposed Articles
The capital of the Company is in the amount of QR 475,200,000 (Four hundred seventy five millions two hundred thousand Qatari Riyals), divided into 47,520,000 (Forty seven million five hundred twenty thousand) shares of QR 10 (ten Qatari Riyals) nominal value.The capital of the Company is in the amount of QR 475,200,000 (Four hundred seventy five millions two hundred thousand Qatari Riyals), divided into 475,200,000 (Four hundred seventy five millions two hundred thousand) shares of QR 1 (one Qatari Riyals) nominal value.
Existing Article (Article No. 30)Proposed Articles
A member of the Board of Directors shall: 1. 2. 3.Be a shareholder and hold at least 20,000 (twenty thousand) shares in the Company’s share capital.A member of the Board of Directors shall: 1. 2. 3.Be a shareholder and hold at least 200,000 (two hundred thousand) shares in the Company’s share capital.
  • Approve the amendment of the Articles of Association of the Company in respect of the ownership of the State of Qatar’s shares in the Qatar Industiral Manufacturing Company to be registered in the name of Qatar Holding wholly owned by the Qatar Investment Authority, the original owner of these shares under the provisions of Emiri Decree No. 22 of 2005 establishing Qatar Investment Authority as the owner of these shares.

On this occasion, H.E. Sheikh Abdul Rahman Bin Mohammed Bin Jabor Al Thani, Chairman of the Board of Directors expressed his deep gratitude for the kind patronage and continuous support of H.H. Sheikh Thamim Bin Hamad Al-Thani, Emir of Qatar and H.E. Sheikh Abdulla Bin Nasser Khalifa Al-Thani, Prime Minister and Minister of Interior.

QIMC’s Board of Directors is pleased to invite the shareholders to attend the Annual General Ordinary Assembly and Extraordinary General Assembly, which will be held  at Giwana Ballroom in Radisson Blu Hotel, on Sunday, 10th March 2019 at 4.00 p. m. (In the absence of quorum the meeting will be held in the same place on Sunday, 17th  March 2019 at 4.00 pm.)

Agenda of Ordinary General Assembly

  1. Confirmation of the Quorum
  2. Hearing of the Board of Directors’ report on the Company’s activities, its financial position for the financial year ending December 31st, 2018 and its future development plans.
  3. Hearing of the Auditors’ report on the Company’s final accounting statements for the financial year ending December 31st, 2018.
  4. Discussion and approval of the Company’s consolidated Balance Sheet and Profit & Loss Account for the financial year ending December 31st, 2018.
  5. Adoption of the Board of Directors’ resolution to distribute (25% of nominal shares i.e. QR 2.5 per share) as dividend for the financial year ending December 31st, 2018.
  6. Absolve Board Members from liability for the financial year ending December 31st, 2018 and determination of their remunerations.
  7. External auditors’ appointment for the financial year 2018 and determination of their remuneration.
  8. Discussion and approval of Corporate Governance report of the company for the year 2018.
  9. Election of members of the Board of Directors for the next three years.

Agenda of Extraordinary General Assembly

  1. To consider and approve the split of the par value of the ordinary share to be QR 1 instead of QR 10, as per the instructions of Qatar Financial Markets Authority, and amendment of the following Articles in the Company’s Articles of Association as shown below:
Existing Article (Article No. 6) Proposed Articles
The capital of the Company is in the amount of QR 475,200,000 (Four hundred seventy five millions two hundred thousand Qatari Riyals), divided into 47,520,000 (Forty seven million five hundred twenty thousand) shares of QR 10 (ten Qatari Riyals) nominal value. The capital of the Company is in the amount of QR 475,200,000 (Four hundred seventy five millions two hundred thousand Qatari Riyals), divided into 475,200,000 (Four hundred seventy five millions two hundred thousand) shares of QR 1 (one Qatari Riyals) nominal value.
Existing Article (Article No. 30) Proposed Articles
A member of the Board of Directors shall: 1. 2. 3.Be a shareholder and hold at least 20,000 (twenty thousand) shares in the Company’s share capital. A member of the Board of Directors shall: 1. 2. 3.Be a shareholder and hold at least 200,000 (two hundred thousand) shares in the Company’s share capital.
  • Approving the amendment to the Articles of Association of Qatar Industrial Manufacturing Company (QIMC) with respect to the ownership of shares of the Qatari government and register the same under the name of Qatar Investment Authority, the original owner of these shares by the Amiri Decree No. 23 of 2005, issued to supersede the Qatari government in the Articles of Association as the owner of these shares, while other shares shall be registered under the name of General Retirement and Social Insurance Authority, and authorizing the Chairman to act accordingly.
Existing Article (Article No. 7) Proposed Articles
No natural or moral person may own more than 2% of the company’s capital at any time other than by inheritance and by will except for the share of the Qatari government. No natural or moral person may own more than 2% of the company’s capital at any time other than by inheritance and by will except for the share of the Qatar Investment Authority and General Retirement and Social Insurance Authority.  
Existing Article (Article No. 29) Proposed Articles
The company shall be governed by a ten-member Board of Directors, two of them shall be appointed by the Qatari government as representatives of its share, while the remaining members shall be elected by the Ordinary General Assembly by secret ballot for a period of three years. In addition, the Qatari government may not participate in the voting to elect the remaining members, except for the first board of directors. The founders shall appoint it for a period of five years commencing from the date of incorporation. The company shall be governed by a ten-member Board of Directors, one of them shall be appointed by Qatar Investment Authority as a representative of its share and one member to be appointed by General Retirement and Social Insurance Authority that represent both shares of Civil Pension Fund and Military Pension Fund. Moreover, the Ordinary General Assembly shall elect the remaining members by the secret ballot for a period of three years. The Qatar Investment Authority and General Retirement and Social Insurance Authority together with both civil and military pension funds may not participate in the voting to elect the remaining members, except the first board of directors. The founders shall appoint it for a period of five years commencing from the date of incorporation.               

Gulf Glass Factory LLC signed EPC contract to build the first Glass Containers Project in Qatar with the Italian company Falorni Gianfranco Srl. Qatar Industrial Manufacturing Company (QIMC) owns 50% of Gulf Glass Factory. Mr. Abdul- Rahman Abdullah Al Ansari, Chairman of Gulf Glass Factory and CEO of QIMC and Mr. Riccardo Scarselli, CEO of Falorni Gianfranco Srl, signed the agreement.
The project specializes in the production of glass containers used in the packaging of water, soft drinks, dairy products and various foodstuffs as well as medicines and perfumes. The design capacity of the plant in the first phase will be 200 tons / day through one furnace. A second furnace will be built in the second phase of the project, which will raise the production capacity to about 450 tons per day. The total cost of the first phase of the project is estimated at QR 238 million and is expected to reach QR 300 million at the end of the second phase.
The project is based on melting raw sand and some other additives in a furnace with a temperature of about 1600 °C. Natural gas is the main source of energy in this process. The raw sand and the other raw materials are converted into glass and is then formed in special molds before being cooled gradually then inspected to ensure quality and conformity to specifications. The project will be based on local sand available from the sand washing plant of QIMC. Tests were carried out on local sand which proved its good quality and suitability to produce high quality glass containers. In addition to sand, other natural materials and chemicals additives are used to improve the quality and properties of the glass and reduce the melting point of the sand, thus reducing production costs. Waste glass (CULLET) can also be used if it becomes available in the future in Qatar.
The project will have a positive impact on the industrial sector in Qatar and will contribute to the development of the growing food & beverage sector which includes; mineral water, soft drinks, juices, dairy products, packaged foods (pickles, oils, sauces, jams, honey, etc.). The food industry is gaining special importance from the Government and is expected to be one of the most important components of the national economy in the near future.
The project will satisfy the local needs of glass containers, which are currently imported from outside sources at high costs, in addition to exporting a some of its products to neighboring Arab markets, most importantly Lebanon, Jordan, Syria and Iraq. These countries suffer from a severe shortage in the availability of glass containers since they do not have any glass containers produced locally, while their needs are very large given the size and importance of their food industries. It is expected that the project will have a good opportunity to compete in these countries as well as other world markets.

QATAR INDUSTRIAL MANUFACTURING COMPANY
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P.O.Box 16875
Doha - State of Qatar
Tel: +974 44344222
Fax: +974 44837878
Email : qimc@qimc.com.qa
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