Frequently Asked Questions

Gulf International Services Q.S.C. (the “Company”) is a Qatari Shareholding Company incorporated in the State of Qatar under commercial registration number 38200 on February 12, 2008. The principal activity of the Company is to operate as a holding company. The Company was incorporated by QatarEnergy as the sole shareholder.

Until February 24, 2008, the equity interests in the portfolio companies Gulf Helicopters Q.S.C. (“GHC”), Gulf Drilling International Q.S.C. (“GDI”) and Al Koot Insurance and Reinsurance Company S.A.Q. (“Al Koot”) were held directly by QatarEnergy and Japan Drilling Company (“JDC”) (In case of GDI – 30.01% was owned by JDC) and the equity interests of QatarEnergy were transferred to the Company on February 24, 2008.

The management concluded that the effective date of transfer of interest from QatarEnergy to the Company was February 12, 2008, being the date on which control as well as joint control, over these portfolio companies, was transferred by QatarEnergy to the Company.

On May 26, 2008, QatarEnergy listed 70% of the Company’s issued share capital on Qatar Exchange. An extraordinary general assembly held on November 4, 2012 approved the amendments to the Articles of Association in which it increased the ownership limit of General Retirement and Social Insurance Authority (GRSIA). Subsequently, as per the instructions of the Supreme Council of Economic Affairs, QatarEnergy divested 20% of its stake in GIS to the GRSIA.

On May 31, 2012, the Group acquired 100% shares of Amwaj Catering Services Limited Q.S.C., a company incorporated in the State of Qatar. The Group has obtained control over the Subsidiary in accordance with the sale and purchase agreement effective from June 1, 2012.

On April 30, 2014, the Group acquired additional 30% of the shares of Gulf Drilling International Limited Q.S.C, a company incorporated in the State of Qatar that resulted to 100% ownership. The Group has obtained control over the company, therefore, the company became a subsidiary of Gulf International Services Q.S.C., in accordance with the sale and purchase agreement, effective from May 1, 2014.

The company was formed to acquire, buy, create, establish, hire, lease, own, manage, sell and/or hold shares, assets and interests in companies (and in their subsidiaries and/or associated undertakings), engaged in the business of the provision of services to the national and/or international oil and gas industry including catering services, offshore and onshore drilling services, helicopter maintenance and transportation services, insurance and reinsurance services (and related advisory services and investment activities in connection therewith), well support services, and in any other company or undertaking which the Company deems beneficial to the business, and/or its development, diversification or expansion from time to time.

Currently, QatarEnergy owns 10% and General Retirement and Social Insurance Authority (GRSIA) owns 20% of the Company’s issued share capital with the balance issued capital held by domestic and international investors, high net worth individuals and retailers.

The 100% subsidiaries of the Company are as follows:

Please refer the “Board of Directors” section for further details

The group is constantly engaged in tendering various proposals in Qatar and within GCC countries. All future expansion plans will be communicated as required to the stakeholders.

The Board of Directors remains open to all strategic growth options.

There are no such plans at this stage.

Total headcount within the group is around 10,000 employees and all companies within the group have targets and goals to increase the number of nationals.

There are no such plans at this stage.

GIS shall keep sufficient cash for its operational/working capital requirements before dividend distribution. GIS will set aside 2.5% of net profits for the Social Fund Contribution. GIS shall satisfy the financial covenant requirement(s) of lender(s), if any. Adequate cash or financing (debt or equity) will be preserved for capital expenditure/investment plans that would result in positive net present value.

GIS’s shares are traded in Qatar Exchange (www.qe.com.qa). In order to transact in GIS’s share, you will have to register with a broker who is registered with Qatar Exchange. The broker will place orders on-behalf of you, and the settlement will be made through the exchange. The broker will charge a commission for their services.

There are number of sources which can be utilized to monitor the performance of your portfolio. These include Qatar Exchange website, android / apple applications for Qatar Exchange and other tailor-made software developed by the brokerage houses.

Please refer to the link below for further details: https://www.qe.com.qa/become-an-investor

The details ruling on Zakat related to share ownership can be found in the Zakat fund (www.zakat.gov.qa)

The details ruling on Zakat related to share ownership can be found in the Zakat fund (www.zakat.gov.qa)

Financial results could be found in financial report section of the website.

Please refer to the “financial performance” section

The annual reports could be found in financial report section of the website.

Please refer to the “publications” section

The Annual General Assembly Meeting is usually held during the first quarter of the following year. Dates are usually announced in the newspapers.

There are no taxes on profits.

The details of the profits earned in the past years can be found in the financial performance section of the website.

Please refer to the “financial performance” section

6^th Floor, Tower 10

QatarEnergy District

Doha, Qatar

Email: gis@qatarenergy.qa

Tel.: (+974) 4013-2080

Fax: (+974) 4013-9750