Nebras Energy Q.P.S.C announces that the Board of Directors having reviewed the External Auditors report of Ras Laffan Power Limited Q.P.S.C. (“Subsidiary”) hereby approve the reduction of the issued and paid-up share capital from USD 136,249,995 to USD 3,000,000 by way of decreasing the number of shares through the cancellation of a number of shares equivalent to the value intended to be decreased, Such amount shall be repaid to the shareholders progressively over the remaining term of the Power Purchase Agreement with Qatar General Electricity & Water Corporation (“KAHRAMAA”) on the basis that the capital exceeds the Company’s operational requirements.
For shareholders’ attention we do not expect any negative impact on the financial statements of Nebras Energy.
All necessary measures will be taken in alignment with regulatory requirements with the relevant authorities, and the Company will disclose any further material developments.
Investor Relations:
- Visit the company website www.nebrasenergy.qa
- Company contact person:
Email Adress: Rashid.Alhajre@Nebrasenergy.qa
Phone number: 40520060 – 55557589
