A video grab of the QGMD meeting.
The Qatari German Medical Devices (QGMD) held its electronic Ordinary General Assembly Meeting on Sunday after achieving a quorum, and announced the postponement of its Extraordinary General Assembly Meeting for a month after not meeting the quorum. The Ordinary General Assembly Meeting approved the company’s balance sheet and profit and loss account for the year ended December 31, 2019; and considered the recommendation of the Board of Directors not to distribute dividends.
The meeting which was chaired by QGMD ViceChairman Talal Subah Al Abdullah was conducted with the attendance of some members of the Board of Directors and company shareholders in the presence of representatives from the Ministry of Commerce and Industry and Talal Abu Ghazaleh & Co International. During the event, the auditors’ report for the financial year ended December 31, 2019 was also approved.
QGMD’s financial position for the financial year ended December 31, 2019 and the company’s future plans were approved after being presented by Al Abdullah, who offered his gratitude to all who participated in the company’s development from board members, shareholders and employees.
The corporate governance report for the year 2019 was discussed and also approved. During the meeting, the board members were discharged for the financial year ended December 31, 2019 and no remuneration was announced. Also, the election of the board members for the vacant positions in the current membership for the remaining period until 2021 took place.
The following names were elected through cumulative voting as follows: Ali Hassan Al Emadi, representing himself (independent shareholder member) winning member with the number of shares (60,000 shares) on the Board of Directors; and Noora Abdullah Al Mulla, representing herself (independent member not owning shares) as reserved independent member in the event of a vacancy in the Board of Directors.
At the end of the meeting Talal Abu Ghazaleh & Co International’s external auditors were appointed for the financial year 2020 and renewed for the second year.
