QatarEnergy issues advance notice of second free MPHC incentive shares allocation
London, 29 December 2023, (Oilandgaspress): –QatarEnergy, the primary founder and main shareholder of Mesaieed Petrochemical Holding Company (MPHC), informs eligible MPHC shareholders at closing of Qatar Stock Exchange on 31st December 2023, and as outlined in the Initial Public Offering (IPO) Prospectus, they will receive a second and last free incentive shares distribution. This distribution will be equivalent to 50% of the shares initially allocated to shareholders during the IPO of MPHC.
Commenting on the incentive shares award, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “The incentive program of free shares allocated for eligible Qatari IPO shareholders is another testimony of the State of Qatar’s policies under the directives of His Highness the Amir, Sheikh Tamim Bin Hamad Al-Thani, aimed at encouraging long-term investment among Qataris.”
H.E. Minister Al-Kaabi added: “QatarEnergy will implement its commitment to grant the incentive shares to every subscribed Qatari national as per the conditions specified in the prospectus on the specified award date. Once the second free incentive shares are received, the shares will be eligible to receive any potential dividends associated with them for the financial year 2023.”
The free incentive shares are ordinary shares with equal rights to capital shares. This distribution will not add to, or alter, the share capital of the Company, as the distribution will be from QatarEnergy’s shareholding in MPHC.
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