13 Feb 2019 12:19
Results of Meeting
Please note that a meeting of the Board of Directors of the company was held on February 2, 2019.
The following summary of the decisions issued:
-The Board approved the report of the Board of Directors and the periodic (audited) financial statements of the company in 31/12/2018 and its complementary clarifications after been reviewed by the Company's auditors and auditors of the central auditing organization
-the Board also made some decisions that would conduct the company's normal operational work.
The company also acknowledges that this summary contains all the essential information that must be disclosed in accordance with the provisions of the Money Market Act, its implementing regulations, and the rules and decisions issued in accordance to them.
Audit Committee Meeting Minutes
For the period from July 1st, 2018 to December 31st, 2018
Examination of the financial statements of the company in December 31st , 2018 and ensure that existing laws are met according to the companies law No. 159 for the year 1981 and its executive regulations and the Capital Market Law No. 95 for the year 1992 and its implementing regulations and disclosure requirements of the Egyptian Stock Exchange
Important Business issues that had been done:
The total investment of about 2.753 billion pounds and the total equity of about 2.687 billion pounds and a net profit of about 278.41 Million and net sales of 7.783 billion and the cost of sales of 7.455 billion pounds, and the total profit of 390.442 million pounds.
As it has been confirmed that the financial statements are made in accordance with the Egyptian Accounting Standards as well as to ensure that an independent consultant to prepare a report for the transactions of the related parties and to see the report of reviewing the current usage (spare parts) and the purchase tenders (local and international)
The Committee also recommend the Board of Directors report and Financial Statements to be presented to the Board for approval
Click on, or paste the following link into your web browser, to view the Financial Statements + the Independent audtor report:
http://www.rns-pdf.londonstockexchange.com/rns/9201P_1-2019-2-13.pdf