Gulf Warehousing General Assembly Approves 15% Cash Dividends

Doha, February 02 (QNA) - Gulf Warehousing Company announced the resolutions of Ordinary General Assembly Meetings held Wednesday 1st February 2012. The AGM heard the management report on the company activities and its financial position for the year ended 31.12.2011. The AGM also heard the auditors' report, by Ernst & Young, on the company balance sheet and profit and loss account of the financial year ended 31.12.2011 and approved it. The AGM agreed on the distribution of cash dividends on the value of QR (1.50) per share by 15%. It absolved BOD Member from responsibilities for transaction for the year ended 31.12.2011 and decided to appoint Ernst & Young as External Auditors for the year 2012 and authorized the Board of Directors to fix their remunerations. AGM elected a new Board of Directors consisting of nine members for the period of year 2012 to year 2014. (QNA)