www.milaha.com

Milaha held its Annual General Assembly Meeting today at Milaha headquarters, during which Shareholders ratified all items on its agenda and approved the Company’s financial statements for the year ended December 31, 2020.

During the General Assembly Meeting, the Shareholders approved the recommendation of the Board of Directors to distribute a cash dividend of 30% of the nominal value of the share, equivalent to QAR 0.3 per share. The General Assembly also approved the appointment of “Price Waterhouse Coopers” as External Auditors for the year 2021.

Addressing the meeting that was held virtually, H.E Sheikh Jassim bin Hamad bin Jassim Jaber Al-Thani, Chairman of Milaha’s Board of Directors, presented an overview of the Company’s activities and financial results, as Milaha reported a net profit of QAR 59 million in 2020.

In his speech, H.E the Chairman of the Board of Directors highlighted the unprecedented challenges that Milaha has navigated due to the COVID-19 repercussions and its impact on the global markets. Despite these disruptions, the Company showed resilience to adapt to critical market conditions.

Dividend distribution will commence on Wednesday, March 17, 2021, through all Qatar National Bank (QNB) branches. QNB will provide full support services to ensure Shareholders can efficiently collect and manage their earned dividends.

At the end of its meeting, the General Assembly elected the following Board of Directors for the next three-year term from 2021 to 2023:

H.E Sheikh Jassim bin Hamad bin Jassim Al-Thani – Non-independent,

H.E Sheikh Khalid bin Khalifa bin Jassim Fahad Al-Thani, representing Qatar Petroleum – Non-independent,

H.E Sheikh Abdulrahman bin Saud Al-Thani – Independent,

H.E Sheikh Suhaim bin Khaled bin Hamad Al-Thani – Independent,

H.E Sheikh Hamad bin Mohamed bin Khaled Al-Thani – Independent,

Mr. Adel Ali Bin Ali, representing M/s Ali bin Ali Establishment – Non-independent,

Mr. Saad Mohammad Saad Al-Romaihi – Independent,

Mr. Hamad bin Mohammad Al-Mana – Non-independent,

Dr. Mazen Jassim Jaidah – Independent,

Mr. Hitmi Ali Khalifa Al Hitmi, representing Ali bin Khalifa Al-Hitmi & Partners Co. – Non-independent,

Mr. Mohammed Ebrahim Al-Sulaiti – Independent.

Mr. Ali Hussain Al-Sada – Independent, Mr. Fahad F S Buzwair, representing Buzwair Real Estate W.L.L. – Independent and Mr. Ismail Ali Al-Emadi – Independent were elected as reserve members of the Board.

The elected Board appointed H.E. Sheikh Jassim bin Hamad bin Jassim Al Thani as its Chairman and H.E. Sheikh Khalid bin Khalifa Al Thani as the Vice-Chairman.