DOHA: United Development Company (UDC), leading Qatari public shareholding company and the master developer of The Pearl-Qatar, yesterday announced that the annual general meeting of its shareholders approved the election of new directors.
The newly-elected directors are: Abdulrahman Abdullah Abdulghani Nasser Al Abdul Ghani, Turki Mohamed Khaled Al Khater, Sheikh Ahmed bin Nasser Faleh Al Nasser Al Thani,Ali Hassan Salem Abdullah Al Khalaf,Moftah Jassim Mohammed Al Moftah,Abdul Aziz Mohammed Hamad Abdullah Al Mana, Dr Thani Abdul Rahman Shaheen Al Al Sheikh Al Kuwari, Rashid Hamad Arsheed Al Farhood Al Meadadi, Sheikh. Ali Bin Ghanem Al Thani.
The UDC shareholders also ratified the appointment of Ernst & Young as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2013.
The annual general meeting adopted all motions proposed by the Board of Directors. They included the Board of Director’s report on the company’s activities and its financial position for the financial year ending 31st December 2012 and the future plan of the company, Auditor’s report on the company’s accounts for the financial year ending 31 December 2012,Approval of the Company’s balance sheet and the profit and loss accounts for the financial year ending 31st December 2012 and deciding on the recommendation of the Board of Directors regarding the dividends, The General Assembly’s release from liability of All members of the Board of Directors for the financial year ending 31 December 2012, appointment of the External Auditor for the financial year 2013 and approval of the auditor’s fees, election of members of the Board of Directors and the Governance Report for the year 2012.
“In 2012, we kept costs under control and increased revenue by more than 43%, helping profits to climb and earnings per share to rise,” Hussein Alfardan, Chairman - UDC Board of Directors, said during his speech to attending shareholders. “Based on our solid 2012 results, we look forward to continued progress in 2013. We are confident in our future and in the new leadership directing our progress since April 2012. This dynamic, new management remains committed to operating United Development Company’s investments and interests in a responsible, transparent and sustainable manner, laying the cornerstone for the many new plans we’d like to charter for our future.”
Ebrahim Al Sulaiti, CEO, UDC said the company must attract, develop, retain and inspire the best people at every level across our company and its subsidiaries. This will necessarily mean that we develop the Qatari workforce at UDC through effective recruiting, education and training.”
The Peninsula
