Doha Insurance dives as EGM for capital increase is postponed
- Qatar: Thursday, March 14 - 2013 at 17:19
The QE 20 Index closed 0.60% higher at 8,583.78 points. Market heavyweight Industries Qatar advanced 0.75% to reach QR175.10. Doha Insurace plummeted 5.19% to close at QR26.50. Earlier in the day, the insurer said the annual general assembly approved the proposal of the board of directors to distribute to the shareholders a cash dividends of 10% from the share par value i.e QR1 for each share in addition to bonus share at the rate of 10% i.e. one bonus share for each ten shares. However, "Due to lack of quorum for a hearing by the extraordinary general assembly in respect of amending the text of Article (6) of the Articles of Association of the company to increase the company's capital."
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