Doha, 20 February 2023: Vodafone Qatar P.Q.S.C. (“Vodafone Qatar” or the “Company”) held its Ordinary and Extraordinary General Assembly Meetings on Monday, 20 February 2023 chaired by Vodafone Qatar’s Chairman H.E. Abdulla Bin Nasser Al Misnad.
The outcome of the Ordinary General Assembly Meeting was the approval of all resolutions on the agenda including the Board of Directors proposal to distribute a cash dividend of 10% of the nominal share value, i.e. QR 0.10 per share.
The meeting also covered the Board of Director’s report detailing the Company’s activities and its financial position for the financial year ended 31 December 2022.
The Shareholders reviewed and endorsed the external auditor’s report on the Company’s Accounts for the financial year ended 31 December 2022 and the external auditor’s reports on the Company’s Corporate Governance and Internal Controls over Financial Reporting. It was also approved unanimously that KPMG be re-appointed the Company’s auditors for the financial year 2023, in addition to approving their fees.
The shareholders approved the consolidated financial statements of the Company for the financial year ended 31 December 2022 and the Corporate Governance Report of the Company for 2022. Moreover, there was unanimous agreement to discharge the members of the Board from all liabilities and approve their remuneration.
Addressing the shareholders, His Excellency Mr. Abdulla Bin Nasser Al Misnad said, “From the outset, 2022 promised to be an eventful year for both Vodafone Qatar and the country as a whole. Vodafone Qatar continued to support key events in Qatar and deepen important partnerships within the local business and community spheres, all whilst further embedding its new brand positioning – Together We Can – into its operations and communications with stakeholders at all levels through adapting to advanced technologies and empowering the human capability to use innovative solutions.”
His Excellency added, “In 2022, the Company reported an annual Net profit of QR 502 million, a 53.4% increase compared to the previous year. Total revenue for the year increased 21.4% year-on-year to reach QR 3.1 billion due to continued growth across all business segments including Prepaid, Postpaid, Fixed broadband services (GigaHome), Managed services, Internet of Things (IoT) and others. EBITDA increased to QR 1.2 billion reflecting strong growth of 19.7% compared to last year.”
The outcome of the Extraordinary General Assembly Meeting, subject to obtaining all relevant regulatory approvals, was the approval of the proposed changes to Article 3 of the Company’s Articles of Association.
Finally, the Shareholders authorised the Chairman of the Board and/or the Vice Chairman to sign the amended Articles of Association and to complete the required formalities in this regard, provided that the Chairman of the Board and/or the Vice Chairman shall be entitled to delegate this right to any member of the Board and/ or the CEO of the Company and to allow authorised persons to assign this task to the Company’s employees as they deem appropriate.
-ENDS-
About Vodafone Qatar P.Q.S.C
Vodafone Qatar P.Q.S.C. ("Vodafone Qatar") provides a comprehensive range of services including voice, messaging, data, fixed communications, IoT and ICT managed services in the State of Qatar, for both consumers and businesses alike. The Company commenced commercial operations in 2009 and has more than 2 million mobile customers as of 31 December 2022. Its state-of-the-art network infrastructure is expanding to cover key locations in the country with fibre connectivity and 5G, along with an extensive digital ecosystem, which will contribute to Qatar's continued growth and prosperity. Vodafone Qatar’s vision is deeply rooted in its mission to connect today’s ideas with the technologies of tomorrow by pioneering digital innovation and becoming people’s first choice in telecom and digital services. Please visit www.vodafone.qa for more details.
For press enquiries, please contact:
Mediarelations.qatar@vodafone.com
For Investor Relations enquiries, please contact:
InvestorRelationsQatar@vodafone.com
The outcome of the Ordinary General Assembly Meeting was the approval of all resolutions on the agenda including the Board of Directors proposal to distribute a cash dividend of 10% of the nominal share value, i.e. QR 0.10 per share.
The meeting also covered the Board of Director’s report detailing the Company’s activities and its financial position for the financial year ended 31 December 2022.
The Shareholders reviewed and endorsed the external auditor’s report on the Company’s Accounts for the financial year ended 31 December 2022 and the external auditor’s reports on the Company’s Corporate Governance and Internal Controls over Financial Reporting. It was also approved unanimously that KPMG be re-appointed the Company’s auditors for the financial year 2023, in addition to approving their fees.
The shareholders approved the consolidated financial statements of the Company for the financial year ended 31 December 2022 and the Corporate Governance Report of the Company for 2022. Moreover, there was unanimous agreement to discharge the members of the Board from all liabilities and approve their remuneration.
Addressing the shareholders, His Excellency Mr. Abdulla Bin Nasser Al Misnad said, “From the outset, 2022 promised to be an eventful year for both Vodafone Qatar and the country as a whole. Vodafone Qatar continued to support key events in Qatar and deepen important partnerships within the local business and community spheres, all whilst further embedding its new brand positioning – Together We Can – into its operations and communications with stakeholders at all levels through adapting to advanced technologies and empowering the human capability to use innovative solutions.”
His Excellency added, “In 2022, the Company reported an annual Net profit of QR 502 million, a 53.4% increase compared to the previous year. Total revenue for the year increased 21.4% year-on-year to reach QR 3.1 billion due to continued growth across all business segments including Prepaid, Postpaid, Fixed broadband services (GigaHome), Managed services, Internet of Things (IoT) and others. EBITDA increased to QR 1.2 billion reflecting strong growth of 19.7% compared to last year.”
The outcome of the Extraordinary General Assembly Meeting, subject to obtaining all relevant regulatory approvals, was the approval of the proposed changes to Article 3 of the Company’s Articles of Association.
Finally, the Shareholders authorised the Chairman of the Board and/or the Vice Chairman to sign the amended Articles of Association and to complete the required formalities in this regard, provided that the Chairman of the Board and/or the Vice Chairman shall be entitled to delegate this right to any member of the Board and/ or the CEO of the Company and to allow authorised persons to assign this task to the Company’s employees as they deem appropriate.
-ENDS-
About Vodafone Qatar P.Q.S.C
Vodafone Qatar P.Q.S.C. ("Vodafone Qatar") provides a comprehensive range of services including voice, messaging, data, fixed communications, IoT and ICT managed services in the State of Qatar, for both consumers and businesses alike. The Company commenced commercial operations in 2009 and has more than 2 million mobile customers as of 31 December 2022. Its state-of-the-art network infrastructure is expanding to cover key locations in the country with fibre connectivity and 5G, along with an extensive digital ecosystem, which will contribute to Qatar's continued growth and prosperity. Vodafone Qatar’s vision is deeply rooted in its mission to connect today’s ideas with the technologies of tomorrow by pioneering digital innovation and becoming people’s first choice in telecom and digital services. Please visit www.vodafone.qa for more details.
For press enquiries, please contact:
Mediarelations.qatar@vodafone.com
For Investor Relations enquiries, please contact:
InvestorRelationsQatar@vodafone.com