Vodafone Qatar Holds Ordinary and Extraordinary General Assembly

Doha, July 01 (QNA) - Vodafone Qatar held its Ordinary and Extraordinary General Assembly Meetings, chaired by HE Vodafone Qatar's Vice Chairman Sheikh Faisal Bin Thani Bin Faisal Al-Thani, at the Four Seasons Hotel. Vodafone Qatar reached the quorum of shareholders necessary for the Ordinary and Extraordinary General Assembly meetings with 69.86 % of The Company's total share capital represented at the meetings. The outcome of the Ordinary General Assembly Meeting was that all resolutions proposed on the agenda were approved including the Board of Directors recommendation for payment of a dividend in the amount of 21 Dirhams per share. The meeting also covered the Board of Director's report of the Company's activities and its financial status for the financial year ended 31 March 2015 and its future plans. Vodafone Qatar's external auditors reported on the Companys Accounts for the financial year ended 31 March 2015 and it was approved unanimously that PwC would remain the Company's auditors for the next financial year, in addition to approving their fee. The proposed discharge of the members of the Board from liabilities and their remuneration was also approved unanimously. The outcome of the Extraordinary General Assembly Meeting was the unanimous approval of the proposed amendment to the Company's Articles of Association that were made in support of the Company maintaining compliance with Islamic Sharia standards. Addressing the shareholders, HE Sheikh Faisal Bin Thani Bin Faisal Al-Thani said, "The year was once again defined by solid results for Vodafone Qatar, underpinned by a 9% growth in our customer base. This performance helped deliver 16% growth in our revenues to QR 2.31 billion and maintain stable EBITDA margin of 25% in challenging market conditions." His Excellency added "Vodafone Qatar's growth in mobile revenues is attributed to the fact that 62% of Qatar's population uses the company's services each month. On March 31, 2015, the number of our customers reached 1.44 million, representing 117,000 more subscribers over the previous year." Vodafone Qatar's CEO Kyle Whitehill also addressed the audience saying, "This financial year has seen many major achievements for Vodafone Qatar most notably in the modernization of our network. Our investment of QR579 million predominantly in Vodafone's network infrastructure has resulted in increased 3G and 4G coverage and capacity plus the launch of 4G+. All this has undoubtedly produced a significantly better customer experience in both voice and data services." Whitehill also outlined the Company's achievements in consumer and enterprise services in addition to the Company's focus over the current financial year, "As we move forward, phase 2 of Vodafone's network modernization will complete the entire upgrade of our remaining cell sites across Qatar. In addition, we will continue to increase the number of indoor and outdoor 4G & 4G+ sites in key locations across the country making sure our customers always enjoy a great experience and superfast data speeds. Our consumer customers will continue to see amazing offers and propositions from Vodafone bringing whats best from Vodafone globally to Qatar. As for enterprise, we will aggressively compete in this space to deliver the most innovative and tailored solutions for our business customers." Vodafone Qatar, part of one of the world's largest telecommunications group, the Vodafone Group, is the holder of the Second Public Mobile and Fixed Telecommunications Networks and Services License in the State of Qatar. Vodafone Qatar switched on its mobile network on 1 March 2009 and shortly after started delivering great value to its customers with a range of exciting products and services. Having built a world class converged IP network, Vodafone launched fibre-based consumer and enterprise fixed-line services commercially in October 2012. (QNA)