Widam Food Company: will hold its EGM on 23/06/2025 for 2025

Widam Food Company announces that the General Assembly Meeting EGM (Thirdmeeting) will be held on Monday  23/06/2025, Company’sHeadquarters, Tower (B), Mezzanine Floor, Suhaim Bin Hamad Street, Bin Mahmoud,and 05:30 PM:

ExtraordinaryGeneral Assembly Agenda:

Item 1:Presentation of the external auditor's report of accumulated losses.

Item 2:Presentation of the Board of Directors' report on extinguishing a portion ofthe company's accumulated losses (QAR 139,052,010) using the full availablereserve of QAR 88,972,992, the company's future plan, and consideration andapproval of the company's continuation or dissolution prior to the end of itsterm as specified in its Memorandum of Association.                  

Item 3:Amending Article No. 47 of the Company’s Articles of Association in accordancewith the Commercial Companies Law and its amendments and the decisions of theQatar Financial Markets Authority    

Article 47 priorto Amendment:

The Ordinary General Assembly determines the remuneration of the Boardmembers, provided that the percentage of such remuneration does not exceed (5%)of the net profit after deducting reserves and legal deductions anddistributing a profit of no less than (5%) of the company's paid-in capital toshareholders.

Article 47 postamendment 

The Ordinary General Assembly determines the remuneration of the Board members,provided that the percentage of such remuneration does not exceed (5%) of thenet profit after deducting reserves and legal deductions and distributing aprofit of no less than (5%) of the company's paid-in capital to shareholders. Members of the Board of Directors may receive a lump sum if the companydoes not make profits. In this case, the approval of the General Assembly isrequired. The Ministry shall set an upper limit for this amount.

Item 4:Amending Item (3) of Article 34 of the Company’s Articles of Association inaccordance with the decision of the Board of Directors held on 04/16/2025 asfollows                                                    

Article 34(3)prior to Amendment:

S/he must be a shareholder, and to own at the time of his election or withinthirty days from the date of his election (100,000) shares of the company’sshares. They must be deposited within sixty days from the date of the start ofmembership with the depository or in one of the approved banks, with no negotiability,mortgage or seizure until the membership term expires, and the balance sheet ofthe last fiscal year in which the member carried out his business is approved.The shares referred to in the previous paragraph shall be allocated toguarantee the rights of the company, shareholders, creditors and third partiesfor the responsibility that falls on the Board members, and if the member doesnot provide the guarantee in the aforementioned manner, his membership shall bevoid. One-third of the Board members must be independent, experienced members,and they are exempted from the condition of owning shares in accordance withthe provisions of Article (97) of the Commercial Companies Law. The majority ofthe members of the Board must be non-executives. If a Board member loses any ofthese conditions, he loses his membership status from the date of losing thatcondition.

Article 34(3) postAmendment 

S/he must be a shareholder, and to own at the time of his election or withinthirty days from the date of his election (10,000) shares of the company’sshares. They must be deposited within sixty days from the date of the start ofmembership with the depository or in one of the approved banks, with nonegotiability, mortgage or seizure until the membership term expires, and thebalance sheet of the last fiscal year in which the member carried out hisbusiness is approved. The shares referred to in the previous paragraph shall beallocated to guarantee the rights of the company, shareholders, creditors andthird parties for the responsibility that falls on the Board members, and ifthe member does not provide the guarantee in the aforementioned manner, his membershipshall be void. One-third of the Board members must be independent, experiencedmembers, and they are exempted from the condition of owning shares inaccordance with the provisions of Article (97) of the Commercial Companies Law.The majority of the members of the Board must be non-executives. If a Boardmember loses any of these conditions, he loses his membership status from thedate of losing that condition.

Item 5:Approval of the company’s governance policies (policies, standards andprocedures specified for membership in the Board of Directors - policy forgranting rewards and incentives - policy for dealing with related parties -procedures for training and induction of new/current Board members)

Item 6: Authorizing the Chairman of the Board ofDirectors (in his capacity) or his authorized representative to make therequired amendments to the Articles of Association in accordance with thedecisions of the General Assembly (extraordinary) or the directives of theMinistry of Commerce and Industry or the directives of the Qatar FinancialMarkets Authority in accordance with Law No. (8) of 2021 amending some articlesof the Commercial Companies Law No. (11) of 2015 and signing the Articles ofAssociation after its amendment before the official authorities