Ag e nda 1. Announcement of Quorum 2. Announcement of election’s results of four members of the Board of Directors for 2020 to 2022 3. Opening Speech by the Chairman of the Board of Directors 4. MD & CEO Speech and Presentation and approval of the Board of Directors report for 2019 5. Presentation of the Auditors’ Report on the 2019 Financial Statements by External Auditors 6. Discuss and approve the Audited Financial Statements for 2019 7. Approval of recommendation of the Board of Directors to distribute cash dividends of 80% for 2019 8. Discuss and approve the Corporate Governance Report for the year 2019 9. Consider discharging the members of the Board of Directors and approve their remuneration 10. Re-appointment of the external auditors for the year 2020 2
Announcement of Quorum 3
Announcement of the Election’s results and announcement of names of all members of the Board of Directors 4
Introduction and Welcome Message 5
Speech by the Chairman of the Board of Directors 6
Managing Director & CEO’s Speech 7
F ina nc ia l Hig hlig hts - 2019 8
Pe trol Stations Ne twork E xpansion 9
F ue l Sa le s Volume T re nd 10
Re ta il Non- F ue l Ope ra tions 13% growth in Sidra and APC revenues in 2019 11
F a he s Ope ra tions Upda te 13 FAHES centers 12
Bitume n Ope ra tions Bitumen storage tanks with 15000 MT of storage capacity completed 13
Ke y Ac hie ve me nts - 2019 Safety - Lost time incident Return on cash improved by 24% frequency improved by 72% Net income increased to QAR Receivables improved by 38% 1,216 million Fuel sales volume reached 10.5 Achieved cost optimization of 7% billion liters Retail fuel market share Launched WOQOD lubricants increased to 82% brand “OTO” Enhanced Bitumen Fixed and Completed 30 new petrol Floating storage capacity to stations in 2019 37,200 MT 14
Approval of the Board of Directors’ Report on the company’s future plan and activities 15
Presentation of the External Auditors’ Report in respect of the Company’s Audited Financial Statements for the year ending 31/12/2019 16
Approval of the External Auditors’ Report in respect of the Company’s Audited Financial Statements for the year ending 31/12/2019 17
Presentation of the Company’s Audited Balance Sheet and Profit & Loss Account for the year ending 31 /12/2019 and approval thereof 18
19
20
Open discussion by Shareholders on the Audited Financial Statements 21
Approval of the recommendation of the Board of Directors for distribution of dividend amounting to 80% of the nominal share capital, equivalent to 80 Qatari Dirham per share 22
Approval of the Corporate Governance Report for 2019 23
Honorable Shareholders, In accordance with Qatar Fuel commitment to Articles (2) and (4) provisions of the Corporate Governance Code for Companies listed in the markets subject to Qatar Financial Markets Authority control, which had been issued by Qatar Financial Market Authority Board of Directors decision no. (5) of 2016, and in guidance by the Governance rules and principles, we are pleased to submit the eight edition of WOQOD 2019 Corporate Governance Report which is prepared and published in order to allow our shareholders, partners, stakeholders and the regulatory authorities to gain knowledge of our ongoing efforts in this area, and to identify responsibilities and obligations that WOQOD have towards our valued shareholders and other related parties. In this report, you will find the steps Qatar Fuel have taken towards achieving the compliance with the Commercial Companies Law No. 11 of 2015 and the governance regulations issued by the Qatar Financial Markets Authority. The report was prepared in two chapters wherein Chapter 1 discusses the basic data and information about Qatar Fuel in terms of its Capital, Subsidiaries , Articles of Associations, the Board of Directors and its committees, its executive management, and the internal audit system, etc. The second chapter deals with the extent of Qatar Fuel commitment to meet the governance requirements according to the Commercial Companies Governance Code issued by the Qatar Financial Markets Authority and published in Official Gazette in 15 May 2017, where we have reviewed the actual application of the provisions of the rules and did not limit ourselves only in the texts included in the rules and regulations and procedures governing the work of the company. Qatar Fuel is always keen to adhere to the prevailing laws and regulations, which matches its activities nature of Petroleum and Gas Products, and the demanding laws subject to as an exclusive regulator & distributor. Yours sincerely, 24
25
Discharging the Board of Directors from liability for 2019 and Approval of their remuneration of QR 9,750,000 26
Re-appointment of the External Auditors 27
Re-appointment of the External Auditors for WOQOD Group for 2020 and approval of their fees amounting to QR 421,000 28
T hank you
Recommend
More recommend
