Decree No. 45 of 1969 on the Incorporation of Qatar Flour Mills Co. (SAQ)

Memorandum of Association


Article 1

A Qatari joint stock company shall be incorporated according to the provisions of the applicable law among the shareholders set forth hereinafter.

 

Article 2                                                                                                                                             

The name of the Company shall be “Qatar Flour Mills Co. (SAQ)”.

 

Article 3

The objectives of the Company shall be:

 

1.      Importing, milling and distributing flour and wheat to bakeries and consumers in Qatar.

2.      Exporting the surplus thereof.The Company may have an interest in or form a partnershipor merge with, or purchase or annex companies which transact similar business to it or may help it achieve its objectivesboth inside and outside Qatar.

 

Article 4                                                                                                                                             

The Company's head office and legal domicile shall be located in Doha City. The board of directors may establish branches, offices, or agencies both inside and outside Qatar.

 

Article 5

The term of the Company shall be twenty-five years as of the date of the decree authorizing its incorporation. Each extension of the Company's term shall be approved by a resolution of the extraordinary general assembly.

 

Article 6

The Company's capital shall be fixed at QAR 500,000,000 (five million riyals) to be divided into 50,000 (fifty thousand) ordinary registered shares at a par value of (100) one hundred riyals per share. 

 

Article 7

The founding members shall subscribe to the above capital at Qatar National Bank as follows:

 

Name

No. of Shares

Amount in QAR

1.      Sheikh Ahmad bin Abdullah Al Thani

400

40,000

2.      M/s. Ahmad SulaimanHaider& Bros

400

40,000

3.      Mr. Ebrahim Mohamed KassemFakhro

400

40,000

4.      Sheikh Jaber bin Muhammad bin Jaber Al Thani

400

40,000

5.      M/s. Hussein Kamal & Sons

400

40,000

6.      Sheikh Khalifa bin Jassim bin Fahd Al Thani

400

40,000

7.      M/s. Saleh Al Hamad Al Mana& Bros Co

400

40,000

8.      M/s. Ali bin Khalifa Al Hatmi& Bros

400

40,000

9.      Mr. Ali Akbar Ansari

400

40,000

10.  M/s. Abd Al Reda& Ismail Lari

400

40,000

11.  Sheikh Mohamed bin Jaber Al Thani

400

40,000

12.  M/s. Mohamed & Ahmed Al Zaman

400

40,000

13.  Mr. Mohamed bin Rashid Al Khater

400

40,000

14.  Mr. Mohamed Rafi Abd Al RahmanEmadDehai

400

40,000

15.  Mr. Mohamed SaedNasrallah

400

40,000

16.  Mr. Mohamed Fahd Buzwair

400

40,000

17.  Sheikh Mubarak bin Khalifa bin Abdullah Al Thani

400

40,000

18.  M/s. Marzooq Al Shamlan& Sons W.L.L.

400

40,000

19.  Mr. Ahmed Khalil Al Baker

400

40,000

Total

7,600

760,000

 

 

The remaining shares, which amount to 43,400 (forty three thousand four hundred) shares with a value of QAR 4,340,000(fourmillion three hundred and fortythousand riyals), shall be sold on the market at a nominal price of 100 (one hundred) riyals per share.

 

Article 8

The undersigned shall undertake to obtain the appropriatelicenceand follow the procedures required to incorporate the Company. For this purpose, they hereby assign Sheikh Mohamed bin Jaber Al Thani, Mr. Mohamed SaedNasrallah and Sheikh Jaber bin Mohamed Al Thani to undertake publication, follow the legal procedures, execute documents and introduce the amendments which the government deems necessary, either herein or to the Company's Articles of Association enclosed herewith.

 

Article 9

The expenses, costs and fees which the Company is bound to incur in its incorporation shall be approximately QAR 10,000 (ten thousand riyals). This memorandum is executed in twenty-two counterparts, distributed as follows:

 

a.       One counterpart to each of the contracting parties.

b.      One counterpart filed at the Commercial Registry Office.

c.       One counterpart kept at the Company's head office.

d.      One counterpart filed at the Ministry of Finance forpurposesofrequesting the required licence. 

 

On Thursday, 11 Rabi II 1389 A.H., corresponding to 26 June 1969, by and between the undersigned:

 

1.      Sheikh Ahmad bin Abdullah Al Thani

 (First Party)

2.      M/s. Ahmad SulaimanHaider& Bros, herein represented by Ahmad SulaimanHaider

 (Second Party)

3.      Mr. Ebrahim Mohamed KassemFakhro

 (Third Party)

4.      Sheikh Jaber bin Muhammad bin Jaber Al Thani

 (Fourth Party)

5.      M/s. Hussein Kamal & Sons, herein represented by Hussein Kamal

 (Fifth Party)

6.      Sheikh Khalifa bin Jassim bin Fahd Al Thani

 (Sixth Party)

7.      M/s. Saleh Al Hamad Al Mana& Bros Co., herein represented by Omar Al Mana

 (Seventh Party)

8.      M/s. Ali bin Khalifa Al Hatmi& Bros (herein represented by Ali bin Khalifa Al Hatmi)

 (Eighth Party)

9.      Mr. Ali Akbar Ansari

 (Ninth Party)

10.  M/s. Abd Al Reda& Ismail Lari, herein represented by Abd Al RedaLari

 (Tenth Party)

11.  Sheikh Mohamed bin Jaber Al Thani

 (Eleventh Party)

12.  M/s. Mohamed & Ahmed Al Zaman, herein represented by Mohamed Al Zaman

 (Twelfth Party)

13.  Mr. Mohamed bin Rashid Al Khater

 (Thirteenth Party)

14.  Mr. Mohamed Rafi Abd Al RahmanEmadDehai

 (Fourteenth Party)

15.  Mr. Mohamed SaedNasrallah

 (Fifteenth Party)

16.  Mr. Mohamed Fahd Buzwair

 (Sixteenth Party)

17.  Sheikh Mubarak bin Khalifa bin Abdullah Al Thani

 (Seventeenth Party)

18.  M/s. Marzooq Al Shamlan& Sons W.L.L., herein represented by Marzooq Al Shamlan

 (Eighteenth Party)

19.  Mr. Ahmed Khalil Al Baker

 (Nineteenth Party)

This agreement is made and entered into as follows:

 

Name

Signature

Address

1.      Sheikh Ahmad bin Abdullah Al Thani

 

P.O. 1108

2.      M/s. Ahmad SulaimanHaider& Bros

 

P.O. 10

3.      Mr. Ebrahim Mohamed KassemFakhro

 

P.O. 77

4.      Sheikh Jaber bin Muhammad bin Jaber Al Thani

 

P.O. 565

5.      M/s. Hussein Kamal & Sons

 

P.O. 451

6.      Sheikh Khalifa bin Jassim bin Fahd Al Thani

 

P.O. 295

7.      M/s. Saleh Al Hamad Al Mana& Bros Co

 

P.O. 991

8.      M/s. Ali bin Khalifa Al Hatmi& Bros

 

P.O. 119

9.      Mr. Ali Akbar Ansari

 

P.O. 900

10.  M/s. Abd Al Reda& Ismail Lari

 

P.O. 64

11.  Sheikh Mohamed bin Jaber Al Thani

 

P.O. 295

12.  M/s. Mohamed & Ahmed Al Zaman

 

P.O. 50

13.  Mr. Mohamed bin Rashid Al Khater

 

P.O. 347

14.  Mr. Mohamed Rafi Abd Al RahmanEmadDehai

 

P.O. 4

15.  Mr. Mohamed SaedNasrallah

 

P.O. 118

16.  Mr. Mohamed Fahd Buzwair

 

P.O. 443

17.  Sheikh Mubarak bin Khalifa bin Abdullah Al Thani

 

P.O. 132

18.  M/s. Marzooq Al Shamlan& Sons W.L.L.

 

P.O. 116

19.  Mr. Ahmed Khalil Al Baker

 

P.O. 9