February 26, 2018 / 2:04 PM / 3 months ago

BRIEF-Vodafone Qatar Posts 9-Month Loss

Feb 26 (Reuters) - VODAFONE QATAR:

* NINE-MONTH LOSS 182.2 MILLION RIYALS

* NINE MONTH REVENUE 1.48 BILLION RIYALS

* AS AT END-DEC 2017, CUSTOMER NUMBERS AT 1.39 MILLION‍​

* SAYS OMPANY’S TELECOMMUNICATIONS NETWORKS AND SERVICES LICENCE HAS BEEN EXTENDED FOR AN ADDITIONAL 40 YEARS TO 2068

* SAYS LICENCE EXTENTION WILL REDUCE AMORTISATION COST ANNUALLY FROM QAR 403 MILLION TO APPROXIMATELY QAR 100 MILLION

* BOARD DECIDED TO RECOMMEND THAT NO DISTRIBUTION OF DIVIDENDS BE MADE FOR NINE MONTHS ENDED 31 DECEMBER 2017

* BOARD DECIDED TO IMPLEMENT REDUCTION IN SHARE CAPITAL FROM QAR 8. 454 BILLION TO QAR 4.227 BILLION TO ADDRESS ACCUMULATED LOSSES OF CO

* CAPITAL REDUCTION TO BE IMPLEMENTED BY MEANS OF REDUCING NOMINAL VALUE OF SHARES FROM QAR 10 PER SHARE TO QAR 5 PER SHARE

* BOARD AGREES TO CONTINUE PARTNERSHIP WITH VODAFONE GROUP BY AGREEING TO TECHNICAL SUPPORT AGREEMENT OF 5 YEARS WITH AN OPTION TO EXTEND ‍​ Source:(bit.ly/2CILDrf)

:(bit.ly/2BQooi5)

:(bit.ly/2oqOBfw) Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below