Press Releases

25 June 2006

Salam Bounian Development held its “Founding” General Assembly Meeting

Salam Bounian Development held its “Founding” General Assembly Meeting at the Mirqab Hall at the Four Seasons Hotel, Doha – Qatar on Monday June 26, 2006 in the presence of shareholders representing more than 75% of the company’s capital.

The “Founding” General Meeting started with the Founding Committee’s Statement by Mr. Issa Abdul Salam Abu Issa, Founding Committee Chairman, providing a summary on the company’s establishment operations and its requirements.

Next, the Founding Committee asked the assembly to approve the Articles of Association and the Company’s By-laws. The third item on the agenda was the election of the company’s first Board of Directors for the term period from 2006 – 2011. The company’s new Board of Directors includes: Issa Abdul Salam Abu Issa, Hussam Abdul Salam Abu Issa, Dr. Hamad Abdulaziz Al-Kawari, Mr. Ali Haider Suliman Al Haider representing Suliman & Brothers Company, Mr. Mohammed Khaled Al Mana, Mr. Talal Saleh Alsoraya, Mr. Mubarak Saleh Al Kholaifi representing Saleh Bin Mubarak Al Kholaifi Establishment, Mr. Fawaz Yousef Ibrahim Ghanem representing Amwal Invest, Mr. Tarek Mohammed Musaed Al Saleh representing Kuwaiti Interests for Financial Investments, Mr. Manei Mohammed Al-Sanei representing Wafra International Investment Company, and Mr. Bassam Abdul Salam Abu Issa representing Salam International. The Assembly then appointed M/s Talal Abu Ghazaleh as the auditors for the first year and officially announced the establishment of Salam Bounian Development.

In conclusion, Salam Bounian Development expresses its deep gratitude to the endless support and encouragement provided by H.H. the Emir Sheikh Hamad Bin Khalifa Al Thani and the Heir Apparent to the private sector. Their continuous efforts in supporting the private sector to improve its institutions and their works to flourish the country’s economy has been exceptional.

The “Founding” General Assembly was held in the presence of representatives of the Ministry of Economy and Commerce – Department of Trade Affairs, representatives of Talal Abu Ghazaleh, the company’s financial auditors for the establishment period, and representatives from the Middle East’s media and press.

Upon the completion of the Founding General Assembly, the newly elected Board of Directors held its first meeting of the Board therein appointing Mr. Issa Abu Issa as Chairman, Mr. Mohammed Khaled Al Mana as Vice Chairman of the Board and Dr. Adnan Steitieh as Secretary to the Board.