Qatar Exchange | Qatar Industries | INDUSTRIES QATAR HOLDS ITS EGM AND APPROVES THE PURCHASE OF QATAR PETROLEUM'S 25% STAKE IN QAFCO

Industries Qatar has announced that the Extraordinary General Assembly meeting of the shareholders of Industries Qatar (IQ) was convened on Sunday, September 13th, 2020 electronically using Zoom application platform and approved the following agenda items:The agenda for the Extraordinary General Assembly Meeting:1.Approve the purchase of the 25% stake in Qatar Fertiliser Company (QAFCO) from Qatar Petroleum for a purchase consideration of USD 1.0 billion.2.Approved the proposed amendments to the Company’s Articles of Association concerning the constitution of the Company’s Board of Directors, as attached to this letter. The new composition of the Board of Directors shall come into effect from the upcoming term of the Board that will start from the date of holding the General Assembly meeting to approve the financial statements of the financial year ending 31 December 2020.3.Delegated IQ’s Board of Directors to negotiate, approve, sign and take all actions necessary to finalize a long-term strategic agreement regulating the relationship between Qatar Petroleum and IQ.

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