Salam International Investment (SLLI) shareholders have approved a stock split whereby each share with a face value of QR10 will be split into 10 stocks of QR1 each.
At the extraordinary general assembly meeting held on Monday, shareholders gave their consent to this effect and to make the necessary amendments to the related articles in the bylaws and the Articles of Association.
The general assembly approved the renewal of its joint venture agreements with Salam Bounian, where authorising the board to enter into joint ventures with the sister company in addition to holding their loans and issuing letters of credit and guarantees where necessary.
The meeting also approved the renewal of the authorisation granted to the board in connection with purchasing, selling, renting, and mortgaging the company’s and its subsidiaries’ real estate assets.
The general assembly approved the auditors’ report detailing with the company’s consolidated balance sheets and profit and loss statement for the year ending December 31, 2018, that showed a net loss of QR994mn. The meeting decided not to distribute any dividends for 2018.
SIIL chairman Issa Abdul Salam Issa presided over the meeting.
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