Mubasher: Qatar Aluminum Manufacturing’s (QAMCO) board has decided to disclose its December 2018 results with its full financial year 2019.
The firm explained that the board viewed one month of operations as being too short to report substantial financial and operational information.
QAMCO has received an approval from the Ministry of Commerce and Industry to amend its Articles of Association to have its first financial year end on 31 December 2019, making its 2019 a 13-month financial year, it said in a filing to the Qatar Stock Exchange (QSE).
QAMCO’s first financial report will be for four months ending 31 March 2019, QAMCO said, noting that its announcement will be issued in April 2019.
The Qatar-listed firm’s board will declare an interim dividend to shareholders with its Q1-19 disclosure. The interim dividend “will pertain to the six months period from 1 July 2018 to 31 December 2018, in line with [QAMCO’s] IPO Prospectus and the founder’s economic rights waiver,” the firm highlighted.
Moreover, QAMCO will hold an extraordinary general meeting (EGM) on the same day to approve the amendments to its Articles of Association so that its first financial year ends on 31 December 2019. The EGM will also amend the firm’s nominal value shares to become QAR 1 per share.
