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Milaha’s Extraordinary General Assembly Meeting Approved Reduction of the Authorized Capital

  8 November 2020

Qatar Navigation Q.P.S.C (“Milaha”) held an Extraordinary General Assembly meeting today, where the Shareholders approved retiring treasury shares to reduce the company’s capital by QR 9.08 million, so that the company’s authorized and paid-up capital will amount to QR 1.136 billion, equal to 1.136 billion shares of QR 1 each, instead of QR 1.145 billion equal to 1.145 billion shares.

The Shareholders also approved the amendment of the Articles of Association of Milaha according to the requirements of the regulatory authorities in line with Law No. (8) of 2021 amending some provisions of the Commercial Companies Law promulgated by Law No. (11) of 2015, and to delegate H.E Chairman of the Board of Directors to complete all the necessary procedures for the retirement of the treasury shares and the amendment of the Articles of Association.

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