QGIR Assembly to Mull 10% Bonus Shares Handout

Doha, February 23 (QNA) - Qatar General Insurance and Reinsurance Company (QGIR) will mull issuing 10% Bonus Shares, or one for ten shares held, to shareholders to raise its capital at its Extraordinary General Assembly meeting to be held here March 15. According to a Qatar Stock Exchange (QSE) notification Tuesday, the listed company will discuss its Board of Directors' recommendation to increase its capital to QR 875.06 Million from QR 795.515 after amending Article (6) of the company's Articles of Association. The company's nominal value of share is QR 10. The EGM will also discuss approving the Amendment of Item (3) of Article (27) of the companys Articles of Association, relating to the guarantee of the rights of the company, shareholders, creditors and third parties. Approving the amendments of QGIR's Articles of Association according to the companies Law No. (11) of the year 2015 and Qatar Central Bank Law No. (13) of the year 2012, the QSE notification said. (QNA)