QE confirms shareholders' restructuring

An official source at QE said, "Since June 2009, the shareholders, Qatar Holding and NYSE Euronext (NYX), have been engaged in five year strategic agreements to transfer knowledge and develop the Qatar Exchange, and during the last three years and a half, most of the agreements have been successfully executed positively reflecting on the performance of the exchange and its regional and international ranking."

"In view of the above, Qatar Holding has expressed desire to increase its stake in QE from 80% to 88%, this desire was in consistent with NYX strategy to obtain greater flexibility for strategic capital deployment, resulting in concluding the shareholders restructuring agreement late October and finalizing all necessary legal relevant procedures," the source added.

"This change has been reflected in the Articles of Association of the Company including the numbers of board seats allocated for each of the shareholders. Otherwise, there are no changes to the partnership and both shareholders and their commitment to the development of the exchange and Qatar as a financial centre. NYX remains an important partner in QE and shall continue to provide all the technological support needed to maintain its pioneering status among the financial markets of the region," the source concluded.