11-12-2024
Gulf Warehousing Co. announces the results of the EGM. The meeting was held on 10/12/2024 and the following resolution were approved
1. Approve and authorise the raising of finance through the issuance of any Shari'a compliant sukuk, trust certificates and/or other similar instruments which are not convertible into shares (“Sukuk”), whether under a programme, through standalone issuances or otherwise, and whether senior or subordinated to other debts of the Company, and whether listed and/or admitted to trading on a stock exchange or any other trading platform and/or unlisted, in an aggregate face amount not exceeding Qatari Riyal 2,000,000,000 (or its equivalent in other currencies) (the “Sukuk Financing Limit”) at any time. The Sukuk Financing Limit shall apply to all outstanding issuances pursuant to 2 and 3 below.
2. Approve and authorise: (i) the establishment of a Shari'a compliant sukuk and/or trust certificates programme in an aggregate outstanding face amount not exceeding, including the aggregate face amount of the Standalone Sukuk (as defined below), the Sukuk Financing Limit (the “Programme”); (ii) issuances of Sukuk (in one or more tranches or Series) under the Programme; and (iii) updates of the Programme from time to time.
3. Approve and authorise the issuance of standalone Sukuk which are not convertible into shares in an aggregate face amount not exceeding, including any Sukuk issued under the Programme, the Sukuk Financing Limit (the “Standalone Sukuk”). The Standalone Sukuk may be, without limitation, senior or subordinated and may include profit deferment or non-payment events.
4. Resolve that each of the establishment of the Programme, any update of the Programme, any issuance of Sukuk under the Programme and the issuance of the Standalone Sukuk (together, the “Transactions”) is in the best commercial interests of the Company and to approve the entry by the Company into (and the execution and delivery of, and the performance by the Company of its obligations under) all agreements and documents necessary to implement the
establishment of the Programme, any update of the Programme, any issuance of Sukuk under the Programme and the issuance of the Standalone Sukuk, as may be amended, supplemented, novated or restated from time to time, as well as the preparation,
publication and distribution to investors of any offering circulars or prospectuses relating to the Programme (including any update thereof) and/or the Standalone Sukuk (together, the “Transaction Documents”).
5. Resolve that each of the Chairman and the Managing Director of the Company be appointed as an authorised signatory (each an “authorised signatory”) and be authorised individually to:
(i) determine and agree, without limitation, the date, tenor, terms, amount, status, offering mechanism, issuer (including a direct or indirect (through a special purpose vehicle company) issuance), transaction structure, the underlying Shari’a structure, listing (if any),
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