Press Releases

Quality Chemical Industries Limited: Post annual general meeting notice

Issued by: Uganda Securities Exchange

Quality Chemical Industries Limited hereby informs its shareholders and the general public that at the Annual General Meeting (AGM) of the Company held electronically on Thursday, 17 July 2025, the following resolutions were passed:

Ordinary Resolutions

  1. Adoption of the company’s audited financial statements for the year ended 31 March 2025 including the reports of the directors and the external auditor
  2. Declaration of a final dividend payment of Shs6.0 per ordinary share less withholding tax, to be paid on 14 August 2025, to shareholders whose names appear on the Company’s share register by close of business on 7 August 2025
  3. Appointment of Ms Botsang Ramorwa as a non-executive director
  4. Re-election of the following directors who retired by rotation: Mr Joseph Baliddawa and Mr Vusi Raseroka
  5. Re-appointment of Grant Thornton as external auditor of the company for the 2025/26 financial year and authorization of the board of directors to set their remuneration
  6. Approval of the fees payable to non-executive directors for the 2025/26 financial year.

Special Resolutions

  1. Ratified the entering into of a term loan facility in the amount of $36,000,000 for the purpose of funding the construction of a second manufacturing facility and a working capital facility in the amount of $15,000,000 for operational purposes, both from Stanbic Bank Uganda Limited
    • Ratified the authorisation of the board of directors to negotiate, finalise, and execute all necessary agreements and documents in connection with the said borrowings, including the creation of any security interests over the assets of the company, and to take any such steps necessary or expedient to give effect to the foregoing
  2. Amended all references in the Memorandum and Articles of Association of “the Companies Act 2012” to read “the Companies Act, Cap.106”
    • Substituted the current Article 1 in the Memorandum and Articles of Association to state the name of the Company as Quality Chemical Industries Limited.

For and on behalf of the board
Grace Karuhanga
Company Secretary
17 July 2025