Aamal’s Chairman Sheikh Faisal bin Qassim Al Thani, and CEO Rashid bin Ali Al Mansoori, with other officials, during the meeting in Doha, recently.
Doha: Aamal Company (Aamal), one of the region’s leading diversified companies, held its Extraordinary General Assembly Meeting recently, with the quorum achieved using the Zoom application.
During the event, the General Assembly approved the Assembly’s articles, most notably increasing the permitted percentage of non-Qatari ownership from 49 percent to 100 percent of the Company’s capital, amending the articles of association to this effect.
Sheikh Faisal bin Qassim Al Thani, Chairman of the Board of Directors at Aamal commented: “I am very pleased that the Extraordinary General Assembly approved the recommendation of the Board of Directors to raise the maximum percentage of non-Qatari ownership in Aamal Company to 100 percent. This will enhance the Company’s attractiveness to investors and should increase the shares’ trading volume, benefitting the company, shareholders, and the market in general. The Qatar Stock Exchange has performed exceptionally well over the past few years, maintaining its leading position in the region despite the challenges that the State of Qatar has faced”.
Rashid bin Ali Al Mansoori, CEO of Aamal Company added: “Increasing the percentage of non-Qatari ownership in the stock market is an important step in achieving the Qatar Stock Exchange’s ambitions to establish Qatar as a world class international market, attracting more investment funds and increasing the weight of Qatari companies listed in global indices. The decision to raise the ownership of non-Qataris to 100 percent in Aamal Company will increase the chances of the Company entering those global indices and will increase the proportion of institutional and high net worth shareholders in the Company, giving stability to the stock and increasing confidence.
“Aamal’s diversified business model, strong financial position and attractive dividend track record should attract investors who wish to be part of the growth and development of the Qatari economy. We appreciate the efforts of our government in developing the investment landscape and supporting the role of the private sector in line with Qatar National Vision 2030. Aamal has great ambitions and wishes to play an important role in the development of the Qatari economy, attracting capital, and supporting innovative projects that serve our beloved country,” Al Mansoori concluded.
