Announcement to open the nomination door for membership of the Board of Directors Qatar Fuel (WOQOD) Company for the next three financial years from the date of the end of the Annual General Meeting of 2019 until the end of the Annual General Meeting of 2022
Qatar Fuel (WOQOD) Co. is pleased to announce the opening of the nomination process for the election of the four (4) non-executive Board members, including at least three (3) independent members, for three years (2020-2022) starting with the end of the Annual General Meeting of the Shareholders for the year 2019 and ending with the end of the Annual General Meeting of the Shareholders for the year 2022, in accordance with the provisions of WOQOD Articles of Association, WOQOD Corporate Governance Policy, the Corporate Governance Code No. 5 of 2016 issued by Qatar Financial Authority Markets and the Commercial Companies Law No. (11) 2015.
Those who meet the conditions of membership and wish to be nominated to the Board of Directors can obtain the nomination documents and membership conditions from the company's website under the address
www.woqod.com.qa or otherwise from the Board of Directors Secretariat at the company's headquarters located at WOQOD Tower, Dafna - Doha from 7:00 am to 3:00 pm Sunday to Thursday.
Nomination applications will be received from 22/12/2019 daily from 7:00 am to 3:00 pm. The deadline for receipt of applications will be the end of the working day on 05/01/2020.
Nominations that do not meet all qualification requirements, or those received without the required supporting documentation, will not be considered.
The original copies of any application, document or undertaking requiring a signature by the candidate and/or the nominating entity, together with all supporting documents required, shall be submitted by hand to the Secretary of the Board of Directors office located at the 22nd floor - WOQOD Tower – Dafna.
After receiving and examining the applications and communicating with the regulatory authorities in accordance with the legal and governance requirements, WOQOD will disclose the final list of candidates who meet the qualifying conditions for Board membership. WOQOD will also publish the final list of candidates in the company web site including all candidates information before at least two weeks from the meeting of the General Assembly entrusted with the election of the Board membership.
The elections will be held during the Ordinary General Assembly Meeting to be held on 18/03/2020 as an original date and 31/01/2020 as an alternative date, according to the following mechanism:
1. All candidates who meet the conditions of membership, whether for independent and non-independent categories, are included in a single list to be voted upon by the General Assembly of shareholders.
2. Independent members with a majority of votes shall first and foremost be chosen as such and shall not be subject to any competition by non-independent candidates, even if any or all of them have more votes than the first three independent members.
3. After selecting the first three independent members, the remaining candidates, whether independent or non-independent, will compete for one seat, to be won by the candidate who scored the highest number of votes, regardless of whether he be independent or not independent.
For inquiries or further information, please contact the Board Secretary at 40217777 or by email at
imakki@woqod.com.qa
