Shaikh Mohammed Bin Hamad Bin Jassem Bin Jaber Al Thani Elected GWC Chairman
Gulf Warehousing Company Q.P.S.C (GWC) held its Annual General Meeting (AGM) on Wednesday 7 February 2024. The meeting was Chaired by Sheikh Abdullah Bin Fahad Bin Jassem Bin Jaber Al Thani and attended by representatives of the Ministry of Commerce and Industry, GWC’s external auditors Ernst & Young, and the company’s shareholders.
The General Assembly ratified all the items on its agenda including the approval of cash dividends to shareholders of 11% of the nominal value of the company’s shares, which is 0.11 Qatari Riyals per share.
The AGM also discussed and approved the Board of Directors’ report on the company’s activities and its financial position during the year, and the auditor’s report. The General Assembly also discussed the budget of the Group and approved it, as well as assigning the external auditor and setting their remuneration. The assembly also approved to release the board members from liability, and distribute rewards to each member based on the evaluation of the board committees. Furthermore, the AGM presented a comprehensive review of the Group’s compliance with the Corporate Governance Code.
The AGM also held the board membership elections for the three-year period from 2024 –2026, in accordance with Article 27 of the company’s constitution. The company’s new board of directors, as elected by the general assembly, now constitutes the following members: Sheikh Mohammed Bin Hamad Bin Jassim Bin Jabor Al Thani – Chairman; Sheikh Fahad Bin Hamad Bin Jassim Bin Jaber Al Thani – Vice Chairman; Sheikh Abdulla Bin Fahad Bin Jassim Bin Jaber Al Thani – Member; Mr. Ahmed Mubarak Al Maadid – Member; Mr. Mohammed Hassan Rafi’ Al Emadi – Member; Ms. Hanadi Anwar Al Saleh – Member; Mr. Sultan Yousif Khater Al Sulaiti – Member; Mr. Mohammed Abdulmonim Al Sayed – Member; and Mr. Abdulaziz Mohammed Jaber Al Sulaiti – Member.
The company achieved net profits of QAR 215 million for the year ended 2023, and Total Revenues of QAR 1.5 billion. The total operating profit reached 323 million with an Asset base of 5.2 billion. The EPS for the year ending 2023 recorded was QAR 0.367.