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Sameh Saeid
Doha
Al Meera Consumer Goods Company would open five new stores in the next three months after obtaining approval from the concerned authorities, Deputy CEO Mohamed Naser al Qahtani has said.
He was speaking at the company's extraordinary general assembly (EGA) meeting in Doha on Wednesday.
"Another 14 stores will follow in next two years", he told Qatar Tribune.
The meeting was chaired by Vice-Chairman of the Board of Directors Dr Saif Said al Sowaidi, and was attended by board members and shareholders.
"The call for this EGA meeting stems from the keenness of the Board of Directors to interact with shareholders, in the framework of the system of governance and related laws and also to address topics on the agenda," Sowaidi said.
He added that the company has been able to take firm steps that empowered it to assume a leading position in the consumer goods retail sector.
"In this context, the company relies on its expansion and development plan, in order to keep pace with the population boom and the urban changes in Qatar, along with its ongoing pursuit of meeting the expectations of consumers and the ambitions and goals of shareholders," he said.
The EGA agreed on the amendment of the Articles of Association of the company as per the regulatory requirements in order to conform with the rules of the Commercial Companies Act no 11 of the year 2015.
The shareholders also agreed to transfer the shares held by the Qatari government amounting to 26 percent to Qatar Holding Company.
