Press Releases

24 February 2010

Salam International Ordinary General Assembly (GA) was held on Wednesday 24/02/2010

Salam International Ordinary General Assembly (GA) was held on Wednesday 24/02/2010, and took the following decisions:

First: Board of Directors' report and future plans;

GA approved the Board of Director's (BOD) report on company's activities, financial results for the year ended 31.12.2009, its response towards Global Economic Crisis and the company’s future plans.

Second: Independent auditors' report and consolidated financial statements:
GA approved the independent auditors' report of KPMG on company's consolidated financial statements, balance sheet and income statement, including disclosures in the accompanying notes, for the financial year ended 31/12/2009 which showed a net profit around QR 131 million, and earnings per share of QR 1,30.
Furthermore, GA approved disclosure of indirect ownership of some shares related to some subsidiaries operating out side Qatar, it is worth mentioning that said disclosure is a repeated since 2002.

Third: Dividend distribution:
GA approved distribution of cash dividends of 7% of the paid up capital for the year 2009 to shareholders registered as of the date of the GA.

Forth: Absolving BOD members from responsibility and approving their remuneration:
GA approved absolving BOD members from responsibility for the financial year ended 31.12.2009, and approved their remuneration.

Fifth: Appointing external auditors for year 2010:

GA approved the appointment of KPMG as the company’s external auditors for the financial year 2010, and authorized the BOD to determine their fees.

Dr. Adnan Steitieh
Secretary of the Board.