By: Eslam Salem
Doha – Mubasher: Mazaya Qatar Real Estate Development Company’s shareholders approved on Tuesday a proposal by the board of directors to distribute bonus shares at 5% or 5 shares for each 100 shares.
During the company’s ordinary general meeting (OGM), shareholders also adopted the balance sheet and the profit and loss account for the fiscal year 2015.
Mazaya’s net profit declined 33.5% to QAR 112.72 million in 2015 from QAR 169.44 million in 2014.
The extraordinary general meeting (EGM) was delayed to March 8 due to lack of quorum, and will discuss a proposal to increase the company’s capital through bonus shares to QAR 1.1 billion distributed across 110.25 million shares.
The Qatar listed company’s share fell today by 2.3% to QAR 11.85.
